TOKYO (Reuters) -The founder of Nidec Corp is returning to the role of CEO less than a year after relinquishing it, the Japanese electric motor maker said on Thursday, as it reported quarterly earnings that missed expectations. Shigenobu Nagamori, who founded Nidec in 1973 and is also its chairman, will replace Jun Seki, who is returning to the position of chief operating officer with immediate effect. "In times like these, I, as the founder of the company who knows everything, will take the lead in the short term to further improve business performance."
TOKYO (Reuters) -Nidec Corp, a Japanese maker of electric motors, on Wednesday said third-quarter operating profit dipped as rising material prices and a shortage of semiconductors squeezed margins. "Delays in negotiations to increase product prices were a reason for the profit drop," Chairman and founder Shigenobu Nagamori said at a briefing. Both executives said they continued to work closely together, dismissing recent media reports that the company founder regretted hiring the former Nissan Motor Co executive in 2020 to succeed him.
(Bloomberg) -- Less than a year after handing over the reins to a successor, Nidec Corp. Chairman Shigenobu Nagamori regrets appointing Jun Seki as Chief Executive Officer and has sidelined his deputy by sending him outside Japan, people with knowledge of the matter said.Most Read from BloombergApple to Rival Square by Turning iPhones Into Payment TerminalsCrypto Secrecy Makes DeFi a Financial Felon’s WonderlandStocks Drop in Roller-Coaster Ride for Wall Street: Markets WrapHow a Fox News Interv