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Toyoda Gosei chairman to step down

Toyoda Gosei Co. Ltd. on April 27 announced that Tadashi Arashima will step down as chairman of the company's board but will remain with the auto parts manufacturer as the board's senior adviser.

Aside from Arashima, Atsushi Sumida also will retire as director and senior managing officer but will stay with the company as an executive functional officer.

Board director and senior managing officer Masakazu Hashimoto was appointed executive vice president, while corporate officer Masaki Oka was named director and managing officer.

Yoshiro Hayashi, member of the company's audit and supervisory board, will leave Toyoda Gosei and will be replaced by Takeshi Uchiyamada, Toyota Motor Corp.'s board chairman.

The manufacturer of automobile components and optoelectronic products said that the appointments will be made official at Toyoda Gosei's shareholders meeting in June and during the board of directors meeting to be held subsequently.