Bridgestone to Strengthen its Corporate Governance Structure based on Mid-Long Term Business Strategy Framework
Tokyo (March 26, 2021) - Bridgestone Corporation (Bridgestone) announced that it appointed an outside director, Dr. Scott Trevor Davis, as the Chairperson of the Board of Directors. This is the first time for Bridgestone to appoint an independent director as the Chairperson of the Board of Directors.
Bridgestone adopted the "Company with Nominating Committee, etc." model of corporate governance in 2016. Since then, it has continued striving to further enhance its corporate governance structure. As part of its efforts, at the Annual Shareholders' Meeting held today, Bridgestone amended its Articles of Incorporation and obtained approval for introducing a system under which the chairperson of the Board of Directors and the chairperson of the Shareholders' Meeting are each appointed separately in accordance with their respective roles.
Based on the amendment to the Articles of Incorporation, Bridgestone appointed Dr. Davis, an independentdirector, as the Chairperson of the Board of Directors at the meeting of the Board of Directors held today in order to further enhance the independent and objective supervision of business execution.
Comment from Dr. Scott Trevor Davis, Chairperson of the Board of Directors:"The separation of the chairperson and executive roles is part of Bridgestone's ongoing process to strengthen its governance in order to enhance both the transparency and objectivity in its decision making and create better alignment with the interests of shareholders and other stakeholders. I am looking forward to working together with all the members of the board in fulfilling the responsibilities of this role as Bridgestone provides sustainable solutions and continues to create value for its customers and society as a whole."
In addition, Bridgestone appointed Mr. Shuichi Ishibashi, Global CEO and Representative Executive Officer, as the Chairperson of the Shareholders' Meeting in order to maintain direct communication and accountability between Bridgestone's executive management and its shareholders.
Bridgestone, under The Bridgestone Essence (Corporate Philosophy), has defined a vision of "Providing social value and customer value as a sustainable solutions company toward 2050" and has and will continue to work towards further enhancing our corporate governance structure.
● Brief History and Positions of Dr. Scott Trevor Davis Professor, College of Business, Rikkyo University (Positions in BridgestoneCorporation)
About Bridgestone Corporation: Bridgestone Corporation, headquartered in Tokyo, is a global company focused on delivering advanced mobility and solutions to customers around the world. In addition to tires and solutions for use in a wide variety of automotive and mobility applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Bridgestone products are sold in over 150 nations and territories around the world.
