Shunichi Miyanaga
Profile
Performance in office
Tenure
Tenure
Background
He joined in April 1972, became an Executive Officer in April 2006, Managing Executive Officer in April 2008, a Director in June 2008 and Executive Vice President in April 2011. He became President in April 2013 and President and CEO in April 2014. It took him 41 years from joining to become President, and seven years from executive officer.
Selection
In April 2013 he succeeded Hideaki Omiya as President. In the fiscal year ended March 2013, the year before, consolidated net sales were ¥2,817.8 billion, operating income ¥163.5 billion and net income ¥97.3 billion. The previous November the company had reached a basic agreement with Hitachi to integrate their thermal power systems businesses, and the change came just before the joint venture's launch. In April 2014 he added the title of CEO to President.
Initiatives
On February 1, 2014 the joint venture with Hitachi was launched as Mitsubishi Hitachi Power Systems, overseeing 58 companies—9 in Japan and 49 overseas. For the two large cruise ships ordered in 2011, delivery of the first ship slipped a year to March 2016, and related losses had swelled to a cumulative ¥240.8 billion by October that year. On October 18, 2016 the company announced its withdrawal from the large cruise ship business. Over the burden of losses on coal-fired boilers in South Africa, it filed for arbitration seeking about ¥774.3 billion from Hitachi.
Career
Career
Mitsubishi Heavy Industries
| Date | Position |
|---|---|
| Apr 1972 | Joined |
| Apr 2006 | Executive Officer |
| Apr 2008 | Managing Executive Officer |
| Jun 2008 | Director |
| Apr 2011 | Executive Vice President, Executive Officer |
| Apr 2013 | President |
| Apr 2014 | President and CEO |
| Apr 2019 | Chairman |
| Apr 2019 | Stepped down as President |