Sejima to step down as NTT director.
Nippon Telegraph and Telephone Corp. (NTT) decided Wednesday on the resignation of Ryuzo Sejima as director and appointments of two top businessmen as outside directors, subject to approval at a shareholders' assembly on June 29, company officials said. Sejima, special adviser to Itochu Corp., has been on NTT's board, serving also as an adviser, since June 1986. The 87-year-old Sejima will be stepping down as director but NTT has not decided on whether to retain him as adviser, the officials said. NTT President Junichiro Miyazu said, "We have decided to ask Sejima to step down at this point in time when we are about to restructure our organizations." NTT, the nation's largest telecommunications carrier, will be turned into two regional carriers and a long-distance company grouped under a holding company in July. The new additions as outside directors are Takashi Imai, chairman of Nippon Steel Corp., and Yotaro Kobayashi, chairman of Fuji Xerox Co. "We thought it necessary to have resourceful outsiders join our board and seek their opinions from a broader perspective," Miyazu said. Imai, 69, is also chairman of the Federation of Economic Organizations (Keidanren), Japan's biggest business lobby, and Kobayashi, 66, is chief of the Japan Association of Corporate Executives (Keizai Doyukai), another major business group.
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|Comment:||Sejima to step down as NTT director.|
|Date:||May 31, 1999|
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