April 7, 2003
Please be advised that on April 7, 2003, Furukawa Electric informally made appointment of representative directors as described below:
Description
1. Reasons for Appointment
Furukawa Electric has been implementing until today bold and aggressive style of management, since Junnosuke Furukawa took office as President in June 1995, under the slogan of speedy management. During these years, the company secured an encouraging outlook for separating its light metals business, and acquired OFS --an optical fiber division of Lucent Technologies-- in 2001, thereby making strategic moves for the future while promoting preference and concentration. However, the current business environment is absolutely obscure including e.g., the long-lasting deflation in this country together with the business stagnation in the information and communication market in Europe and the United States. To establish a managerial regime to tackle such complicated management tasks encountered in the severe global economy of today, Junnosuke Furukawa, the current president, was appointed as Chairman of the Board which is presently vacant, and Hiroshi Ishihara, a current Senior Managing Director, was appointed as President.
With regard to the introduction of operating officer system aimed at accelerating management decision making, the company is in the stage of finalizing.
2. Name and Career of New Representative Directors
| March 1958 | Graduated from Department of Economics, Keio University | |
| April 1959 | Joined the company | |
| June 1985 | Director | |
| June 1989 | Managing Director | |
| June 1991 | Senior Managing Director | |
| June 1994 | Vice-President, Director | |
| June 1995 | President, Director | |
| June 2003 | Chairman of the Board, Director (in due) |
| March 1965 | Graduated from Faculty of Engineering, Hokkaido University | |
| April 1965 | Joined Nippon Telegraph and Telephone Public Corp. | |
| June 1994 | Director of Nippon Telegraph and Telephone Corp. | |
| June 1996 | Managing Director of the same company | |
| January 1999 | Joined Furukawa Electric as an adviser | |
| June 1999 | Senior Managing Director | |
| June 2002 | Senior Managing Director, and Manager of Overseas Marketing | |
| June 2003 | President, Director (in due) |
3. Scheduled Date of Inauguration
June 27, 2003