IHI Orders Officers to Return Part of Remunerations Due to Misconduct

MT Newswires Live11-07

IHI (TYO:7013) said officers involved in misconduct at subsidiaries IHI Power Systems and Niigata Transys will return part of their remuneration, according to its Wednesday filing.

This decision follows a review by the Remuneration Advisory Committee, led by an independent director.

Hiroshi Ide, Representative Director, President, and CEO of IHI Corporation, will return 30% of his monthly remuneration for three months.

Kouji Takeda and Takeshi Kawakami, both Managing Executive Officers, will return 20% of their monthly remuneration for two months. Tsugio Mitsuoka, former President and current Chairman, will return 10% for one month.

At IHI Power Systems, President Takashi Murasumi will return 30% of his monthly remuneration for three months. Directors Osamu Nakamura and Yuichi Tamura will each return 20% for two months.

Masao Akamatsu, the former President, will return 10% for one month.

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