KYOTO -- Japanese motor producer Nidec, whose rapid growth is almost synonymous with legendary founder Shigenobu Nagamori, has taken a first step toward a full leadership change by naming the long-reigning CEO's second in command.
Executive Vice President Hiroyuki Yoshimoto, 50, will be promoted to president in June, the Kyoto-based manufacturer said Thursday. He will be the first to take over the position held by Nagamori since the company's 1973 founding.
