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| August 3, 2004 |
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| Hitachi appoints Sir Stephen Gomersall KCMG as Chief Executive for Europe |
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London and Tokyo, 3rd August 2004---Hitachi, Ltd. (NYSE: HIT/ TSE: 6501) and Hitachi Europe Ltd. today announces the appointment of Sir Stephen Gomersall KCMG, as Chief Executive for Europe. Sir Stephen joins having spent 14 years as a diplomat in Japan.
Sir Stephen's unparalleled knowledge of European and Japanese industry, markets and cultures makes this appointment an important step forward for Hitachi, which seeks to operate as a 'truly local company' in each geographical region of its operations.
The company has stated its aim of growing its success and reputation in Europe. One of Sir Stephen's primary responsibilities will be to foster a greater understanding amongst key European audiences of Hitachi's increasingly local expertise and its positioning as a European company.
The Chief Executive for Europe is Hitachi's senior regional representative and has three main areas of responsibility:
- relationships with each government and various regional communities, important customers and strategic alliance partners;
- Group-wide regional strategy and positioning in European markets; and
- a governance role for areas including IT strategy, brand, finance, legal and export control.
Reflecting the shape of Hitachi's business activities in Europe, the role will primarily focus on the EU nations but will also cover Central and Eastern Europe, Russia, the Middle East and Africa.
Sir Stephen, 56, joins following his retirement in July as British Ambassador in Tokyo, a role he had held since 1999. He has spent a total of fourteen years as a Diplomat in Japan and has a unique understanding of commerce, economics and politics in Japan and Europe gained through working with UK and European companies to expand their businesses in Japan and by assisting with bringing several significant Japanese manufacturing investments to the UK.
Sir Stephen has a strong multilateral negotiating record. His previous roles have included Director of International Security at the Foreign and Commonwealth Office, Ambassador and Deputy Permanent Representative of the UK Mission to the United Nations and Head of Security Policy Department, FCO.
Sir Stephen will take up his position at Hitachi on 4th October, following his return to the UK. He will be based at Hitachi Europe Ltd.'s offices in Maidenhead, U.K.
Mr. Hiroaki Nakanishi, Senior Vice president, Hitachi Ltd., said: "We are committed to further developing our business in Europe and gaining a more widespread knowledge of our strengths in this region. The unique experience and understanding which Sir Stephen brings to this important role will help us to enhance our position and achieve our potential."
Sir Stephen Gomersall KCMG, said: "This is an exciting opportunity to play a leading role in the future European development of a leading global solutions provider. Hitachi has a superb track record for innovation and is committed to becoming a truly 'local' company. It has a solid platform for future growth and success and I look forward to helping Hitachi achieve its goals."
About Hitachi Ltd.
Hitachi, Ltd. (NYSE: HIT/ TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 326,000 employees worldwide. Fiscal 2003 (ended March 31, 2004) consolidated sales totaled 8,632.4 billion yen ($81.4 billion). The company offers a wide range of systems, products and services in market sectors, including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's Web site at http://www.hitachi.com.
About Hitachi Europe Ltd.
Hitachi Europe Ltd., is a wholly owned subsidiary of Hitachi, Ltd., Japan. Headquartered in Maidenhead, UK, it has operations in 15 countries and employs 460 people across Europe, the Middle East and Africa. As a 'Best Solutions Partner' Hitachi Europe tailors its
services and solutions to meet the specific needs of its customers. Hitachi Europe comprises nine key business areas: power and industrial systems (including rail); information systems; high performance computing; digital media; display products; air-conditioning and refrigeration systems; procurement and sourcing; corporate technology group (research & development) and the Hitachi Design Centre. For more information about Hitachi Europe Ltd., please visit http://www.hitachi-eu.com.
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| Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice. |
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