Akira Ieiri
Profile
Performance in office
Tenure
Tenure
Background
He joined the company in 1953 and in 1969 served as the first President of Thai Bridgestone. He became a Director in 1974, Managing Director in 1977, Senior Managing Director in 1980 and Director and Executive Vice President in 1984. A homegrown manager appointed from outside the Ishibashi family, he was seen as the standard-bearer for moving away from family management. His early experience running an overseas subsidiary appears to have underpinned his later decisions on expansion in the U.S.
Selection
In February 1985 he moved up from Director and Executive Vice President to President, succeeding Kunio Hattori. He was appointed at the wish of owner Kanichiro Ishibashi. The U.S. replacement tire market was then 100 to 200 million tires a year, while the company's exports were 2.5 million tires, a share of just under 2%, and he set an immediate goal of raising this to 4%. Amid a strong yen, a maturing domestic market and global industry consolidation, Ieiri judged that securing a place among the Big Three required production and sales networks in the U.S. and Europe.
Initiatives
In February 1988 the company agreed to acquire 75% of a joint venture spun off from Firestone's tire division for $750 million. When Italy's Pirelli announced a bid for all the shares in March, it launched a counter tender offer, and in April acquired 96.4% for a total of $2.6 billion. The price, about ¥330 billion in yen terms, equaled 60% of annual revenue, and with it the company gained 11 plants in the U.S. and Europe and a network of about 1,500 dealers at a stroke. In January 1993 it integrated its sports business into Bridgestone Sports.
Career
Career
Bridgestone
| Date | Position |
|---|---|
| 1953 | Joined |
| 1969 | President, Thailand Bridgestone |
| 1974 | Director |
| 1977 | Managing Director |
| 1980 | Senior Managing Director |
| 1984 | Executive Vice President |
| Feb 1985 | Representative Director, President |
| Mar 1993 | Stepped down as President |