|1.||Background of the change|
|Since Mr. Kondo became president of Ricoh in 2007, the company, under his leadership, has been fully engaged in creating customer value through expanding its business domain from office equipment to production printing and other new businesses including MDS and IT Services, while actively globalizing through strategic acquisitions. At the same time, Ricoh was adversely affected by a series of major events such as the global financial crisis in 2008, the March 2011 Earthquake and Tsunami in Japan and the floods in Thailand the same year. Even under such extreme circumstances, the Ricoh Group pursued vigorous measures including extensive structural reforms to reinvigorate the business. In the spirit of these initiatives and to further bolster the business and reinforce the earnings structure, the company is announcing a series of changes at the top.|
|2.||Content of the decision|
Personnel change of Representative Director, President and Chief Executive Officer
Mr. Masamitsu Sakurai will resign as Chairman of the board and will be appointed as Executive Adviser as of April 1, 2013.
Mr. Zenji Miura
Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2014, Ricoh Group had worldwide sales of 2,195 billion yen based on the IFRS accounting standard (approx. 21.3 billion USD).
The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.
Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.
For further information, please visit www.ricoh.com/about/
Information in the news releases is true and accurate at the time of publication.
Manufacture, sales, price and specifications of products may be subject to change.