At the meeting, to take place on June 28, Nikko AM will nominate Takumi Shibata as its candidate for director and chairman, with Charles Beazley to remain as president and chief executive.
The separation of the two roles was a decision taken unanimously by the board of Nikko AM.
“I strongly believe that international best practice and good corporate governance requires a separation between the positions of chairman and CEO and I informed the board early this year that this was the path we needed to follow,” Mr Beazley said.
“This is especially important for a company that intends to IPO and needs to meet the scrutiny of the international markets.”
With the recent retirement of two senior executives, Mr Beazley had been performing the combined roles of chairman, president and chief executive.
If the appointment goes ahead, Mr Shibata and Mr Beazley will continue the execution of Nikko AM’s expansion and position the company on track to its initial public offering (IPO).
“The best opportunities for growth across different markets and client segments are right here in Asia; the emergent wealth in Asia and the structural resurgence of Japan as an investment opportunity will be key drivers for Nikko AM’s growth,” Mr Shibata said.
“I hope to bring additional insights to Nikko AM’s board and assist its strategic development and growth.”
Mr Shibata’s appointment as chairman will bring the board composition to nine directors. The new roles will be effective 1 July 2013.
