Nidec chair: ‘Biggest mistake in 50 years’

The Yomiuri Shimbun

14:37 JST, October 25, 2022

Nidec Corp. Chairman and CEO Shigenobu Nagamori commented on the confusion surrounding his search for an outside person to name as his successor, saying, “That was the biggest mistake I have made in 50 years of management.”

He added, “This has delayed our growth.”

At an online briefing on the major electronic components manufacturer’s financial results on Monday, Nagamori said that the company plans to assign five vice presidents by next April and promote one of them to the position of president the following year.

Former Nissan Motor Co. executive Jun Seki, who joined Nidec in 2020, was the latest candidate whom Nagamori tried, but he eventually left the company.