Renesas Electronics Announces Executive Personnel Changes

TOKYO--(BUSINESS WIRE)--

Renesas Electronics Corporation (TSE: 6723, Renesas), a premier supplier of advanced semiconductor solutions, today made the following changes concerning Members of the Board. These changes were approved at a meeting of the Board of Directors on May 11, 2016, and will become effective following the adoption of the resolutions at the 14th Ordinary General Shareholders' Meeting to be held on June 28, 2016.

1. Reason for the Changes

Under the Reform Plan aimed at establishing a stable financial foundation, Renesas proceeded with the selection and concentration of businesses, reforming the manufacturing structure and operational changes that support business- and manufacturing reforms, with March 31, 2016, as the target date for completion.

Having achieved a certain level of financial stability through these efforts, Renesas has decided to make changes to its executive lineup. The company, under a new management structure, will endeavor to stimulate growth by further strengthening its ability to deliver semiconductor solutions to the global market.

By appointing a new Outside Director who is independent of our controlling shareholders, based on our corporate governance policy, Renesas intends to increase management transparency and impartiality while, at the same time, maintaining the existing structure of five members of the board to ensure agile decision-making.

2. Outline of the Changes (As of June 28, 2016)

Name		New Title		Current title
Tetsuya Tsurumaru		Representative Director, Chairman*1		Representative Director, President and CEO
Bunsei Kure		Representative Director, President and CEO*1, 3		Executive Adviser to CEO
Hidetoshi Shibata		Executive Vice President and CFO*2		Executive Vice President, Member of the Board and CFO
Takao Endo		Resign		Member of the Board
Nobuyuki Nakano		Resign		Outside Director
Mikihide Katsumata		Outside Director (Newly appointed)*3, 4		---
Jiro Iwasaki		Outside Director (Newly appointed)*3, 4		---

*1) There is no change to the representative directors from what the company announced in the press release "Renesas Electronics Announces Change in Representative Director" issued on April 15, 2016.
*2) At the conclusion of the General Shareholders' Meeting, Mr. Shibata's term of office as Member of the Board will expire, but he will continue to serve as Executive Vice President and CFO.
*3) The one new Member of the Board and two new Outside Directors will officially be appointed following the adoption of the resolutions at the Ordinary General Shareholders' Meeting.
*4) See the attachment for the brief biographies of the newly appointed two Outside Directors.
(Note) Mr. Tetsuro Toyoda will remain in his current post of Outside Director.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad-range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in 20 countries worldwide. More information can be found at www.renesas.com.

Brief Biographies of the Newly Appointed Outside Directors

Name (Date of Birth)		Brief Biography
Mikihide Katsumata (May 21, 1960)		April 1983		Joined The Industrial Bank of Japan, Limited (currently, Mizuho Corporate Bank Limited)
		August 1999		Joined Merrill Lynch Japan Securities, Global Principal Investments, as Director
		April 2002		Founded Nippon Mirai Capital Co., Ltd as Partner & Chief Financial Officer
		April 2007		Founded New Frontier Capital Management Co., Ltd. as Chief Executive Officer
		April 2010		Joined Mobile Internet Capital, Inc. as President & Chief Executive Officer
		July 2015		President and COO/CIO, Innovation Network Corporation of Japan (to the present)

Name (Date of Birth)		Brief Biography
Jiro Iwasaki (December 6, 1945)		April 1974		Joined TDK Corporation
		June 1996		Director, GM of Human Resources, TDK Corporation
		June 1998		Director & Senior Vice President, Executive Officer of Recording Media & Solutions Business Group, TDK Corporation
		June 2006		Director & Executive Vice President, Senior Executive Officer of Administration Group, TDK Corporation
		March 2008		Audit and Supervisory Board Member, GCA Savvian Corporation
		October 2008		Outside Director, JVC KENWOOD Holdings, Ink.
		June 2009		Director & Senior Vice President & Executive Officer, Strategic Human Resources & Administration Division, JVC KENWOOD Holdings, Ink.
		March 2011		Audit and Supervisory Board Member, SBS Holdings, Ink.
		April 2011		Professor at Teikyo University, Faculty of Economics/Department of Business Administration
		March 2015		Outside Director, SBS Holdings, Ink. (to the present)
		April 2015		Audit and Supervisory Board Member (Full-time), GCA Savvian Corporation
		March 2016		Director (Full-time Audit and Supervisory Committee Member), GCA Savvian Corporation (to the present)

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