Yoichiro Kaizaki
Profile
Performance in office
Tenure
Tenure
Background
He joined The Hokuriku Bank in March 1956 and moved to Bridgestone in January 1962. He became a Director in 1985, Managing Director in 1986 and Senior Managing Director in 1990, and in March 1991, as Representative Director and Executive Vice President, also became Chairman and CEO of Bridgestone/Firestone in the U.S. The Firestone business acquired in 1988 turned profitable on a period basis only from the second half of 1992, and he had been responsible on the ground for its turnaround.
Selection
In the Firestone acquisition carried out under his predecessor Akira Ieiri, the rush to complete the tender offer left the equipment insufficiently inspected, integration ran into difficulty, and productivity stayed below a third of Bridgestone's. Within a year of the acquisition an additional $1.5 billion had to be invested, and the share of supply to the Big Three automakers fell from 21.5% in 1987 to 9% in 1989. He moved up from Representative Director and Executive Vice President to succeed Ieiri as President in March 1993, apparently on the strength of his record as Chairman and CEO of the U.S. business.
Initiatives
In January 1997 the company acquired the company holding Firestone South Africa, and it opened bases in Poland in July 1998 and the United Arab Emirates in November 1999. In January 2000 it acquired China's Tianjin Kumho Tire Co., Ltd. In May 2000 the U.S. National Highway Traffic Safety Administration opened an investigation into rollover accidents involving Ford SUVs, and in August a voluntary recall of 6.5 million Firestone tires was decided. In the fiscal year ended December 2000 the company booked ¥81.4 billion in losses related to the voluntary product recall.
Career
Career
Hokuriku Bank
| Date | Position |
|---|---|
| Mar 1956 | Joined |
Bridgestone
| Date | Position |
|---|---|
| Jan 1962 | Joined |
| 1985 | Director |
| 1986 | Managing Director |
| 1990 | Senior Managing Director |
| Mar 1991 | Representative Director, Executive Vice President, Chairman and CEO, Bridgestone, Faiasuton |
| Mar 1993 | Representative Director, President |
| Mar 2001 | Stepped down as President |