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| May 13, 2005 |
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| HITACHI MAKES EXECUTIVE APPOINTMENTS TO ACCELERATE HARD DISK DRIVE BUSINESS GROWTH |
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SAN JOSE, Calif., May 12, 2005 -- To shepherd in an accelerated growth phase, Hitachi Global Storage Technologies (GST) has named Hiroaki Nakanishi to the position of chief executive officer, effective June 1, 2005. Mr. Nakanishi is currently chairman of the board of directors of Hitachi GST Netherlands BV, the parent company of Hitachi GST operations. In his new role, Nakanishi will lead the COO, CFO, CTO , product strategy and marketing, sales, legal, human resources and corporate communications functions.
Mr. Nakanishi replaces the current CEO, Dr. Jun Naruse, who will become chief technology officer, a newly created office that will have a greater emphasis on strengthening Hitachi's position in technology. Reporting to Dr. Naruse will be research, intellectual property and Hitachi GST's chief technologist.
Also, Robert Holleran, currently senior vice president and general manager of Hitachi GST hard disk drive business group, will become chief operating officer (COO), effective June 1, 2005. Holleran succeeds the current COO, Glenn Larnerd, who will retire from Hitachi GST at the end of June 2005, after assisting Holleran's move into his new position. As COO, Holleran's responsibilities will include leading the hard disk drive and head and media business units, quality assurance, development, advanced technology, manufacturing, procurement and information technology.
"Hitachi put a strong management team in place to facilitate the critical early integration phase after acquiring IBM's HDD business," said Nakanishi. "We are now prepared to move Hitachi GST into an accelerated growth and deeper integration phase with greater expectations for business performance and profitability.
"Hitachi wants to thank Jun and Glenn for the significant contributions they have made in Hitachi GST's first two-and-a-half years of operation," Nakanishi added. "During their tenure, Hitachi GST became the second largest supplier of HDDs in terms of revenue and shipments for consumer electronics applications; Hitachi GST also strengthened its leadership position in small form factor drives in this period. We look forward to Jun continuing to play a significant role in advancing our technology and wish Glenn all the best in his retirement."
Nakanishi currently serves as senior vice president and executive officer of Hitachi Ltd. and chief executive for the Hitachi operation in North America. He previously was vice president and executive officer, general manager, Global Business, Hitachi, Ltd. During his 35-year career with Hitachi, Nakanishi has served in a variety of increasingly responsible senior management positions at both Hitachi headquarters and its Information & Telecommunication Systems Group.
Holleran has 25 years of data storage industry experience. At the founding of Hitachi GST in 2003, he was named general manager of the Desktop Business Unit. In January 2004, he became general manager of the 2.5-inch and 1.8-inch Consumer and Commercial Business Unit and later was promoted to senior vice president and general manager overseeing all of Hitachi GST's product groups. Prior to joining Hitachi, Holleran spent 18 years in IBM's storage business in positions of increasing responsibility.
| About Hitachi Global Storage Technologies |
Hitachi Global Storage Technologies was founded in 2003 as a result of the strategic combination of Hitachi's and IBM's storage technology businesses. Hitachi GST is the industry's second largest hard disk drive manufacturer in revenue.
The company's goal is to enable users to fully engage in the digital lifestyle by providing access to large amounts of storage capacity in formats suitable for the office, on the road and in the home. The company offers customers worldwide a comprehensive range of storage products for desktop computers, high-performance servers and mobile devices. For more information on Hitachi Global Storage Technologies, please visit the company's Web site at http://www.hitachigst.com.. |
| About Hitachi, Ltd. |
| Hitachi, Ltd., (NYSE: HIT), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 347,000 employees worldwide. Fiscal 2004 (ended March 31, 2005) consolidated sales totaled 9,027.0 billion yen ($84.4 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 Website at http://www.hitachi.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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