Thursday, February 24, 2005
Koichi Nagasawa, the founding chairman and chief executive officer of Japanese chip company Renesas Technology Corp., is to retire Apr. 1, 2005, the company has announced. Satoru Ito, currently president and chief operating officer is set to become president and chief executive officer.
Renesas was created April 1, 2003, as a joint venture between Hitachi Ltd. and Mitsubishi Electric Corp. embracing the semiconductor activities of the two companies and headquartered in Tokyo. The company achieved a profit during its first fiscal year and has predicted an increase in revenue for FY2004.
Starting April 1, 2005, Renesas Technology aims to accelerate management reform under Ito, the company said
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