DAI-ICHI LIFE HOLDINGS, INC.
[Unofficial Translation]
May 15, 2015
Koichiro Watanabe
President and Representative Director
The Dai-ichi Life Insurance Company, Limited
Code: 8750 (TSE First section)
Dai-ichi Life Announces Changes to Directors and Executive OfficersThe Dai-ichi Life Insurance Company, Limited (the "Company"; President: Koichiro Watanabe) hereby announces changes to its board members including the Directors and Executive Officers as of June 23, 2015. The Company, in order to elevate the corporate governance system to a new level, is proposing the addition of three new outside directors.
The changes will become effective pending resolutions by the annual general shareholders meeting and by the board of directors meeting to be held on that day.
1. Planned changes
(1) New appointment of directors (as of June 23, 2015)
Name | Current title | Title as of June 23, 2015 |
Satoru Tsutsumi (*1) | Deputy President | Representative Director, Deputy President |
George Olcott (*2) | Guest Professor, Keio University, Faculty of Business and Commerce | Director |
Rieko Sato (*2) | Partner, Ishii Law Office | Director |
Shu Ungyong (*2) | President & CEO, Core Value Management Co., Ltd. | Director |
Notes:
(*1) The appointment of Satoru Tsutsumi will be effective pending resolutions by the annual general shareholders meeting and by the board of directors meeting to be held on June 23, 2015.
(*2) The appointment of George Olcott, Rieko Sato and Shu Ungyong as outside directors will be effective
pending resolutions by the annual general shareholders meeting to be held on June 23, 2015.
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
(2) Re-appointment of directors
Name | Title as of June 23, 2015 |
Norimitsu Horio | Representative Director, Deputy President |
Takashi Kawashima | Director, Senior Managing Executive Officer |
Note: The re-appointment of Norimitsu Horio and Takashi Kawashima will be effective pending resolutions by the annual general shareholders meeting and by the board of directors meeting to be held on June 23, 2015.
2. Reasons for appointment of Directors
Name | Reasons |
Norimitsu Horio | His experiences as a member of the Company and its subsidiaries and affiliates (collectively, the "Group") have covered a wide range of engagements in the Company's businesses, including the domestic life insurance businesses (both individual and corporate) and the customer care-related businesses, and he has deep experience and knowledge in the life insurance business. In addition, he has duly performed his duties as a member of the board of directors for two years since June 2013. The Company believes he is qualified to be a director of the board of the Company. |
Takashi Kawashima | His experiences as a member of the Group have covered a wide range of engagements in the Company's businesses, including DSR management promotion, asset management, personnel management, and he has deep experience and knowledge in the life insurance business. In addition, he has duly performed his duties as a member of the board of directors for two years since June 2013. The Company believes he is qualified to be a director of the board of the Company. |
Satoru Tsutsumi | His experiences as a member of the Group have covered a wide range of engagements in the Company's businesses, including corporate planning, marketing strategy, asset management businesses, and he has deep experience and knowledge in the life insurance business. In addition, he has duly performed his duties as a senior managing executive director at DLIBJ Asset Management Co., Ltd. (presently DIAM Asset Management), and also as president of The Dai-ichi Frontier Life Insurance Company. The Company believes he is qualified to be a director of the board of the Company. |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
Name | Reasons |
George Olcott | He is an expert on human resources management and corporate governance of global companies, based on the knowledge he gained through a wide range of experiences, such as acting as managing director of financial institutions and as outside director of other corporations. The Company believes he could bring significant benefits to the Company by supervising and advising on various matters of corporate management based on his global and objective viewpoint. |
Eriko Sato | She is an experienced and trusted attorney, and she has had a wide range of experiences serving as outside director of the auditing committee of various corporations. The Company believes that she could bring significant benefits to the Company by supervising management and advising on various legal matters of the Company based on her objective viewpoint. |
Shu Ungyong | He has a wide range of experiences as managing director of financial institutions. The Company believes he could bring significant benefits to the Company by supervising and advising on various matters of corporate management based on his global and objective viewpoint. |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
3. Directors, Audit and Supervisory Board Members and Executive Officers as of June 23, 2015
Name | Title |
Katsutoshi Saito | Representative Director, Chairman of the Board |
Koichiro Watanabe | Representative Director, President |
Shigeo Tsuyuki | Representative Director, Deputy President |
Norimitsu Horio | Representative Director, Deputy President |
Satoru Tsutsumi | Representative Director, Deputy President |
Kazuma Ishii | Director, Senior Managing Executive Officer |
Tomoyasu Asano | Director, Senior Managing Executive Officer |
Hideo Teramoto | Director, Senior Managing Executive Officer |
Takashi Kawashima | Director, Senior Managing Executive Officer |
Kenji Sakurai | Director, Senior Managing Executive Officer |
Morinobu Nagahama | Director, Managing Executive Officer |
Haruo Funabashi | Director |
Michiko Miyamoto | Director |
George Olcott | Director |
Rieko Sato | Director |
Shu Ungyong | Director |
Atsushi Nagayama | Senior Audit and Supervisory Board Member |
Fusakazu Kondo | Senior Audit and Supervisory Board Member |
Masasuke Omori | Audit and Supervisory Board Member |
Takashi Wachi | Audit and Supervisory Board Member |
Tsuneaki Taniguchi | Audit and Supervisory Board Member |
Satoru Tsutsumi | Deputy President |
Takehide Itonaga | Senior Managing Executive Officer |
Akio Tanaka | Managing Executive Officer |
Koichi Maruno | Managing Executive Officer |
Nobuyuki Akimoto | Managing Executive Officer |
Atsushi Takahashi | Managing Executive Officer |
Shinichi Aizawa | Managing Executive Officer |
Satoru Sato | Managing Executive Officer |
Masamitsu Nanbu | Managing Executive Officer |
Seiji Inagaki | Managing Executive Officer |
Masao Taketomi | Managing Executive Officer |
Masahiro Takashima | Managing Executive Officer |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
Name | Title |
Katsuhisa Watanabe | Executive Officer |
Hideo Hatanaka | Executive Officer |
Kimihiro Sato | Executive Officer |
Tetsuya Kikuta | Executive Officer |
Chieko Takahashi | Executive Officer |
Munehiro Uryu | Executive Officer |
Hiroshi Shoji | Executive Officer |
Tatsusaburo Yamamoto | Executive Officer |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
4. Biography of Newly Appointed Directors
Name | Satoru Tsutsumi |
Date of Birth | December 30, 1955 |
Number of shares held | 12,238 shares |
Education | March 1978 Graduated from Hitotsubashi University, Faculty of Commerce and Management |
Career History | April 1978 Joined The Dai-ichi Mutual Life Insurance Company (presently The Dai-ichi Life Insurance Company, Limited) April 1999 Staff General Manager, Marketing Strategy Dept. April 2000 General Manager, Marketing Strategy Dept. April 2005 Executive Officer, Chief General Manager, Investment July 2005 Senior Managing Executive Director, DLIBJ Asset Management Co., Ltd. (presently DIAM Asset Management) April 2010 Advisor, The Dai-ichi Frontier Life Insurance Company June 2010 President and Representative Director, The Dai-ichi Frontier Life Insurance Company April 2015 Deputy President, the Company |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
Name | George Olcott |
Date of Birth | May 7, 1955 |
Education | June 1977 Graduated from University of Oxford, Faculty of Philosophy, Politics and Economics (PPE) |
Career History | July 1986 Joined S.G. Warburg & Co. Ltd. November 1991 Director, S.G. Warburg & Co. Ltd. September 1993 Executive Director, Equity Capital Market Group, S.G. Warburg Securities London April 1997 Head of Tokyo Branch, SBC Warburg April 1998 Vice President, LTCB-UBS-Brinson Asset Management February 1999 President, UBS Asset Management (Japan) President, Japan UBS Brinson June 2000 Managing Director, Equity Capital Market, UBS Warburg Tokyo September 2001 Judge Business School, University of Cambridge March 2005 FME Teaching Fellow, Judge Business School, University of Cambridge March 2008 Senior Fellow, Judge Business School, University of Cambridge September 2010 Project Professor, Research Center for Advanced Science and Technology, The University of Tokyo April 2014 Guest Professor, Keio University, Faculty of Business and Commerce |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
Name | Rieko Sato |
Date of Birth | November 28, 1956 |
Education | March 1981 Graduated from The University of Tokyo, Faculty of Law |
Career History | April 1984 Registered Attorney-at-Law June 1989 Shearman & Sterling LLP July 1998 Partner, Ishii Law Office |
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The Dai-ichi Life Insurance Company, Limited
[Unofficial Translation]
Name | Shu Ungyong |
Date of Birth | October 19, 1962 |
Education | March 1986 Graduated from Hitotsubashi University, Faculty of Law |
Career History | April 1986 Joined the Morgan Bank January 1999 Head of Financial Institutions Group and Investment Bank, J.P. Morgan Securities, Tokyo Branch (presently J.P. Morgan Securities Japan Co., Ltd.) January 2001 Managing Director September 2004 Head of Financial Institutions Group May 2007 Managing Director, Financial Institutions Group, Investment Bank Dept., Merrill Lynch Japan Securities Co., Ltd. July 2010 Co-Head of Investment Banking Division July 2011 Vice Chairman October 2013 President & CEO, Core Value Management Co., Ltd. |
Investor Contact:
Investor Relations Center
Corporate Planning Department
+81 50 3780 6930
This press release may contain statements that are "forward-looking statements" regarding our intent, belief or current expectations of management with respect to our future results of operations and financial condition. Any such forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, consumer sentiment, political events, level and volatility of interest rates, currency exchange rates, security valuations and competitive conditions. Forward-looking statements are not guarantees of future performance and involve risks and
uncertainties, and actual results may differ.
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The Dai-ichi Life Insurance Company, Limited
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