TOKYO, May 22 (Pulse News Wire) – Air Water Inc. (4088.T) announced significant changes to its management structure aimed at strengthening internal controls and preventing recurrence of inappropriate accounting practices.
The moves follow the company's designation as a special attention stock by the Tokyo Stock Exchange on April 17. Key appointments include Yoshihiro Senza, who will take up the role of president and CEO, and Yu Karuto, who will serve as executive vice president overseeing finance and accounting. Additionally, six new external directors and three additional audit committee members will join the board, bringing the total number of independent directors to half of the board composition.
In organizational restructuring, the company established a cross-functional department called the Corporate Reform Office to oversee internal control reforms and strategic portfolio reviews. It also set up a Board Secretariat to enhance oversight functions and improve communication between outside directors and internal departments. Effective July 1, the company will reorganize its four existing business units into three main divisions—Industrial Business Unit, Healthcare Business Unit, and Agriculture and Food Business Unit—to streamline operations and focus resources on core competencies.
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