Hitachi Reorganizes Following Dismal Financials - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Hitachi Reorganizes Following Dismal Financials

Hitachi Ltd. says it has appointed company president Tsutomu Kanaias as chairman, effective April 1. Hitachi, the parent company of more than 300 electronics subsidiaries, including Hitachi PC and Hitachi Data Systems, has also named Hiroshi Kuwahara to the newly formed position of vice chairman. He'll assume that role in June, at the completion of a three-year stint as executive VP of Hitachi's IS, electronic components, and business development groups.

The reorganization follows a disastrous midyear earnings report for Hitachi. Earlier this month, the company reported a $1.17 billion loss for the first two quarters of 1998, compared with a $27 million profit for the same period a year earlier. The company says Kanai has been responding to the poor showing by implementing management reforms and cost-cutting measures.

Replacing Kanai as president will be Etsuhik Shoyama, the company's current executive VP in charge of the consumer products group. The company says Shoyama has aggressively restructured that business over the last two years.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
News
How GIS Data Can Help Fix Vaccine Distribution
Jessica Davis, Senior Editor, Enterprise Apps,  2/17/2021
Commentary
Graph-Based AI Enters the Enterprise Mainstream
James Kobielus, Tech Analyst, Consultant and Author,  2/16/2021
Slideshows
11 Ways DevOps Is Evolving
Lisa Morgan, Freelance Writer,  2/18/2021
Register for InformationWeek Newsletters
Video
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll