Ousted Fujitsu Chief Speaks Out
April 09, 2010
Last September, Kuniaki Nozoe was forced to resign as president of Fujitsu, Japan's largest computer and technology services company. Now he's doing something very uncharateristic for a Japanese executive: he is going public about his ouster, and trying to clear his name. When Japanese executives are forced out or fired, they usually go quietly, a final sign of corporate loyalty at the end of their tenure. Nozoe has stunned Japan by challenging his removal.
Fujitsu says he resigned for continuing ties to a group with an "unfavorable" reputation. Earlier, Fujitsu said it was due to an illness. Nozoe denied any ties to what he calls "antisocial forces" or organized crime.
Nozoe plans to file a $5 billion damages suit against two of the company's executives, claiming the firm sustanied losses to that amount by forcing him to resign. The losses were incurred due negotiations Nozoe spearheaded for the proposed sale of a Fujitsu subsidiary which was suspended after his "resignation."
Masami Yamamoto was named in January to take over as president from chairman Michiyoshi Mazuka, who temporarily assumed the position after Nozoe's resignation through the end of March.
During Nozoe's 15-month stint which ended September 2009, the company moved to sall of its hard-disk-drive business to Toshiba and agreed to outsource some chip production to TSMC to cut spending. The company also sought to strengthen its operations in Europe by making Netherlands-based Fujitsu Siemens Computers Holding BV a fully owned subsidiary.
To see Nozoe's interview with the Wall Street Journal, click here.
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