Fujitsu Continues To Be Unsettled
New president of Fujitsu takes helm saying all restructuring is done though the messy departure of former CEO continues to negatively impact. From WSJ.
Fujitsu President: No Plan to Exit Major Businesses
New President's Remarks Clash With Views of His Predecessor, Who Is Pressing for Changes
By JURO OSAWA And DAISUKE WAKABAYASHI
TOKYO—The new president of Fujitsu Ltd. said Thursday that the sprawling technology giant has no immediate plans to exit its major businesses or to reduce its head count, nor does it need a major overhaul.
Taking office amid the turmoil stemming from the departure last year of its former president, new president Masami Yamamoto said restructuring had run its course and the company has finished reorganizing its unprofitable businesses.
"I'm not saying restructuring is all over. But as for drastic measures, we've already done most of what we need to do," said Mr. Yamamoto, who took over April 1, succeeding current chairman and interim president Michiyoshi Mazuka, and who comes from the company's computer-server business.
Mr. Yamamoto's views on the need for more restructuring are a stark contrast to those of the former president, Kuniaki Nozoe, who resigned in September but who is fighting the company over allegations he was forced out on false pretenses. Under Mr. Nozoe's leadership, the company sold off its hard disk-drive business and stopped producing semiconductors.
Since his departure, Mr. Nozoe has argued the company needs more restructuring, which has come to a halt.
Fujitsu initially said Mr. Nozoe was stepping down due to illness. But on April 14, the company said he had been asked to resign after continuing to associate with an unidentified fund with possible ties to "antisocial forces," despite being warned against doing so. Antisocial forces is a common Japanese euphemism for organized crime.
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Posted by staff at April 22, 2010 01:39 PM