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.
May 24, 2016
London, 24th May, 2016 - Horizon Nuclear Power Limited (Horizon), a wholly-owned subsidiary of Hitachi, Ltd. (TSE:6501), today announced the appointment of a new Chairman to its Board of Directors.
Incumbent Mr Tatsuro Ishizuka is moving to a new role as Chairman of the Hitachi Research Institute, based in Japan. He will therefore be standing down from the Horizon Board of Directors on 30th June. From 1 July he will be succeeded by Mr Masahide Tanigaki.
Mr Ishizuka was a Board Director of Horizon from 2012 until 2014, and rejoined as Chairman from April 2015.
Mr Masahide Tanigaki has been with Hitachi, Ltd. since 1975. Until April 2014 he was the Representative Executive Officer, Senior Vice President and Executive Officer at Hitachi Ltd. He has previously held posts as Chairman of the Board for Hitachi-GE Nuclear Energy Ltd and advisor to the CEO of Hitachi. He has been a Board Director of Horizon since 2014. Mr Tanigaki will continue to undertake board duties from Tokyo where he is based.
In March this year a Chief Executive Officer was appointed to Horizon for the first time. Duncan Hawthorne was previously CEO of Bruce Power LP in Canada, one of the world's largest operating nuclear power station sites. He took up the post at the beginning of May and will lead the UK nuclear business from the company's headquarters in Gloucester.
Mr Hawthorne said: "Mr Ishizuka has been closely involved with Horizon since Hitachi acquired the company. We'd like to thank him for his strong support and wish him all the best in his new role.
"Mr Tanigaki has a wealth of experience in international markets and a deep understanding of Hitachi's nuclear business and Horizon specifically. We are delighted he will succeed Mr Ishizuka as chairman."
Last week Horizon announced it had appointed its major supply chain partners for the delivery of Wylfa Newydd; Bechtel, JGC and Hitachi Nuclear Energy Europe Ltd in a joint venture to be called Menter Newydd ("new venture" in Welsh).
Horizon Nuclear Power was formed in 2009 to develop new nuclear power stations in the UK. It was acquired by Hitachi Ltd of Japan in November 2012. The company is developing plans to build at least 5,400MW of new nuclear power generation plant at Wylfa on the Isle of Anglesey and Oldbury-on-Severn in South Gloucestershire. Its power station sites will employ up to 850 people each once operational with a construction workforce of around 4,000 workers for the majority of the time and between 8,000 and 10,000 during peak periods. For more information about Horizon, please visit www.horizonnuclearpower.com.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges. The company's consolidated revenues for fiscal 2015 (ended March 31, 2016) totaled 10,034.3 billion yen ($88.7 billion). The Hitachi Group is a global leader in the Social Innovation Business, and it has approximately 335,000 employees worldwide. Through collaborative creation, Hitachi is providing solutions to customers in a broad range of sectors, including Power / Energy, Industry / Distribution / Water, Urban Development, and Finance / Government & Public / Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
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