Akihabara News (Tokyo) \u2014 Shigenobu Nagamori, the founder and chairman of Nidec, a company which focuses on electric motors, has so far proven to be unwilling to retire from his posts and to hand power over to the next generation, in spite of being 78 years old.<\/p>\n
The average age of Japanese company CEO is just over 60 years old.<\/p>\n
Nagamori founded Nidec in 1973, and during his remarkable tenure he built it up into a major corporation with annual revenues in excess of US$11 billion, employing over 110,000 people.<\/p>\n
Nagamori gained a legendary reputation for his strict discipline and his philosophy of \u201cStick to Number 1,\u201d meaning that the company\u2019s goal is to become the absolute top firm in every field it competes in.<\/p>\n
Perhaps it is because of this perfectionist orientation that Nagamori now finds it difficult to hand over authority to anyone else. He simply can\u2019t find anyone who can reach his lofty standards of leadership.<\/p>\n
In April last year, Jun Seki, a former deputy chief operating officer of Nissan Motor, was appointed to take over as the leader of Nidec.<\/strong> However, he only lasted about a year. Nagamori explained, \u201cSince Seki took over as CEO, the corporate culture based on hard work has been lost.\u201d He disapproved of the direction the company was taking, and so he sacked him.<\/p>\n Last month, Seki resigned from the company entirely.<\/p>\n 73-year-old Vice Chairman Hiroshi Kobe replaced Seki, but obviously this is only a stopgap measure.<\/p>\n The future of Nidec remains uncertain, but one thing that is clear is that it will be extremely difficult to fill Nagamori\u2019s shoes, at least if Nagamori himself has anything to say about it.<\/p>\n The post Nidec Struggles with Succession<\/a> appeared first on Akihabara News<\/a>.<\/p>\n
Akihabara News (Tokyo) \u2014 Shigenobu Nagamori, the founder and chairman of Nidec, a company which focuses on electric motors, has so far proven to be unwilling to retire from his posts and to hand power over to the next generation, … Continue reading
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\nSource: Akihabara News – Nidec Struggles with Succession<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"