Ricoh CEO Zenji Miura leaves

  • Signs for push-out forces
  • After four years on the job
  • Yoshinori Yamashita taking over

(management-change.com) — Tokyo, Japan, January 26, 2017 — Zenji Miura, chief executive of Ricoh, leaves. As announced by Ricoh Company, Ltd. in a news release on Thursday, January 26, 2017, Zenji Miura leaves the post as Chief Executive Officer at the Japanese multinational imaging and electronics company after four years on the job, effective April 01, 2017.

Miura’s duties are taken over by Yoshinori Yamashita, currently Director, Deputy President in charge of core business and General Manager of Business Solutions Group at Ricoh Company, Ltd.

The move is part of a management shake-up.

“Changes in the business environment such as the decline in growth of office printing”

The management change is explained as follows. Ricoh said: “Since Mr. Miura became president of Ricoh in 2013, the Company, under his leadership, has been fully engaged in creating customer value through expanding its services and production printing businesses as well as fully launching its industrial business. Furthermore, the Company has cultivated new areas of value such as its sustainability management business. In addition, the Company is tacking changes in the business environment such as the decline in growth of office printing. In the spirit of these initiatives and to further bolster the business and reinforce the earnings structure, the company is announcing a number of changes to its top management.”

“Resign”

Ricoh said: “Mr. Zenji Miura will resign as Representative Director, President and Chief Executive Officer and will be appointed as Corporate Executive Advisor as of April 1st, 2017.”

Share price decline

The change follows a decline in the share price of Ricoh Company, Ltd. since June 2007.

On the job as CEO since 2013

Miura has been the Chief Executive Officer and Executive President at Ricoh Company, Ltd. since April 1, 2013.

Miura previously served as representative director, deputy president, and chief financial officer.

Miura joined Ricoh Company in 1976, and was appointed chairman and CEO of Ricoh Americas Holdings in 2012.

Signs for push-out forces

It is not completely certain what forces eventually triggered Zenji Miura’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 05.2017 ($).