Nidec picks automotive unit head as CEO

Auto appointment: The Japanese automotive maker Nidec on February 14 selected an auto unit executive as its new President and CEO, putting him in line to eventually take over as chairman from Founder of Nidec, Shigenobu Nagamori.

In a statement, the Japanese electric vehicle (EV) maker Nidec said the Executive General Manager of its automotive motor and electronic control business unit, Mitsuya Kishida, will become President and CEO with effect from April 1.

With the appointment, the Kyoto-based maker of automotive components and precision motors seeks to bring to an end a long-running succession struggle as it faces heavy price competition in China's electric vehicle market.

In March 2023, Nidec had lined up five executives as contenders for president, of which Kishida was selected on Wednesday, who would be put in line to eventually succeed Nagamori as chairman.

Kishida, who went to university in Kyoto, comparatively is a newcomer to Nidec, having joined the firm in January 2022 from Sony where he worked for nearly four decades, overseeing its mobile communications unit and holding other roles.

Nagamori will on that date of Kishida's appointment become executive chairman, serving for up to four years, while relinquishing his current roles of Chairman and CEO.

Incumbent President, Hiroshi Kobe, will become the company's new chairman, and serve for up to four years, the company said.