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Report: 3 Sharp execs to be named co-CEOs

Three executives at Japanese consumer electronics company Sharp Corp. are expected to be named co-CEOs with President Tai Jeng-wu, the Nikkei Asian Review reported.

The development comes after Tai mentioned considering a co-CEO system to ensure a smooth transition once he steps down. His announcement follows the company's return to the main bourse of the Tokyo Stock Exchange.

According to the Nikkei, Sharp's executive vice presidents Katsuaki Nomura, head of corporate strategy planning, and Yoshihisa Ishida, head of the company's artificial intelligence business, as well as Sharp China chief Toshiaki Takayama, are expected to be named co-CEOs with Tai Jan. 1, 2018. The three reportedly will be in charge of top-level decisions for the regions and divisions they currently manage.

Tai will remain president and continue to chair board meetings, and is also expected to oversee operations in Southeast Asia and the company's ultrahigh-definition 8K display business, the report said.

The news agency added that one of the co-CEOs could be appointed to take Tai's place when he steps down, but the company reportedly is also looking to add more executives to the "elite group" in the future.

Tai moved to Sharp as CEO from the consumer electronics maker's Taiwanese parent Hon Hai Precision Industry Co. Ltd. in August 2016.