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The firm decided at a board meeting Friday to make Nozoe senior executive adviser, with Chairman Michiyoshi Mazuka doubling as president starting that day.
Mazuka told a news conference Friday evening that he will be an interim president and that a committee will be formed to find an official replacement.
In Nozoe's 15 months as president, Fujitsu decided this February to sell its hard-disk-drive operations to Toshiba Corp. (TSE:6502). It also made an arrangement to outsource production of cutting-edge semiconductors to Taiwan, reversing a cost-intensive policy of fabricating such chips in-house.
Meanwhile, Fujitsu took full control of a 50-50 European computer joint venture with Germany's Siemens AG this April to bolster operations in computers -- an effort that is key to expanding the information systems business.
Nozoe served for many years in marketing and had only brief stints in such key segments as computers and telecommunications equipment. This enabled him to take aggressive restructuring steps because he had no constricting ties with certain departments, according to the head of a Fujitsu group firm.
Fujitsu posted a consolidated net loss of 112.3 billion yen (US$1.3 billion) for the fiscal year ended March 31, including about 110 billion yen in restructuring expenses for such sluggish businesses as semiconductors. In July, in its medium-term business plan it has set a target for a record 130 billion yen net profit for fiscal 2011.
"We will make an earnest effort to achieve the goals spelled out in the business plan, which we all created together," said Mazuka, indicating that he intends to follow the course set by his predecessor.
(Nikkei) lm
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