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Nidec's hunt for Nagamori successor leads to 5 new vice presidents

Outside committee will pick one as the next president in April 2024

Nidec Chairman and CEO Shigenobu Nagamori has chosen five vice presidents as candidates to succeed him. (Photo by Kosaku Mimura)

KYOTO, Japan -- Japanese motor maker Nidec will appoint five vice presidents as of April 1 and promote one of them to president a year later, the company said Monday, in a transition that will see founder Shigenobu Nagamori step down as chairman and CEO.

"Any one of the five would be suitable" as the next president, Nagamori said at an online press conference. He praised all five candidates.

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