News - 2023

Strengthening of the Global Management Structure as of January 1,2024

2023/10/19

Tokyo (October 19, 2023) ― Under its unchanging mission of "Serving Society with Superior Quality," in 2020 which was the first year of its "third foundation" or Bridgestone 3.0, Bridgestone has set forth a vision－"Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company"－and is striving forward to realize this vision. The Group has been working to be a strong Bridgestone capable of adapting to change, as the first step of its transformation in Mid Term Business Plan (2021-2023). Building on these foundations, in Mid Term Business Plan (2024-2026) （24MBP）designated 2024 as the starting point, Bridgestone will accelerate the transformation to a resilient "excellent" Bridgestone which can transform change to opportunity, unperturbed by continuous change and remaining robust and flexible like rubber, even in times when "change is becoming commonplace." The transformation is along with the "2030 Long Term Strategic Aspiration"－the roadmap toward its 100th anniversary in 2031. In order to strengthen its global management structure toward the transformation, the reorganization to New "Glocal Management Structure" effective January 1st, 2024 is decided based upon its Board of Directors' resolution on October 19.

Comments from Shu Ishibashi,
Global CEO and Representative Executive Officer of Bridgestone Corporation:

We have been driving management by balancing the 3 management axes - "tackle past negative legacies without delay", "focus on execution and delivering results for immediate issues", and "lay foundation for future growth", while responding to change. With these axes, we will evolve to the next stage by reforming our management approach from "Crisis" triggered by the COVID-19 pandemic starting from 2020 to the Next Stage with "PASSION for Excellence".
The Bridgestone group will continue striving to boost corporate value based on the reinforcement of its New "Glocal" Management Structure, accelerating its transformation through 24 MBP, by "focus on execution and delivering results", having our focus on respect for being on-site, promoting agile Plan-Do-Check-Act, enhancing business quality through innovation and continuous improvement, and pursuing operational excellence.

Specifically, as well as clarifying Global CEO direct strategic functions (Global CEO Office, Global Corporate Strategy and Global Sustainability Strategy) as Global strategic functions, BRIDGESTONE EAST and BRIDGESTONE WEST will be set dividing our business into 2 regions. And two Joint Global COOs who currently delegate each region; WEST and EAST will be assigned as BRIDGESTONE EAST CEO : Masahiro HIGASHI and BRIDGESTONE WEST CEO : Paolo FERRARI.
Under the 2 regions, current SBUs will be reorganized into 6 - BRIDGESTONE EAST - BSJP(Japan Tire), BSDP(Diversified Business, Exploratory Business), G-MICA(Global Mining, Industrial, Construction, Aviation Tire Solutions), BSAPIC(Asia Pacific, India, China) / BRIDGESTONE WEST - BSAM(Americas), BSEMEA(EU, Middle East, Africa) .
G-MICA will be deployed under EAST in order to unify its business responsibility on production which concentrated in Japan and Asia and sales functions. India business will be transferred from WEST to EAST considering effectiveness and efficiency enhancement from a geographic point of view and Monozukuri capability improvement.
Furthermore, to get more deeply involved in local specific issues, business units will be restructured to 28 local management "areas" from the perspective of region, market characteristics and operation/management capability in each region as well as market position so as to rebuild business units focusing on execution and delivering results.
6 functions will be placed as Global BRIDGE INTEGRATION which plays a global cross-functional role in order to keep consistency between global and regional strategies and also to maximize efficiency and effectiveness in the Group.
- The Group will assign Masahiro HIGASHI, BRIDGESTONE EAST CEO as Global CAO(Chief Administration Officer) and Paolo FERRARI, BRIDGESTONE WEST CEO as Global CDXO(Chief Digital Transformation Officer) to make use of their strengths as well as clarifying management responsibility in each region.

- Global CTO(Chief Technology Officer) and Quality management are separated into Global CTO(Chief Technology Officer)・Monozukuri and Global CQMO(Chief Quality management Officer) from check and balance strengthening perspective and business quality improvement, operational excellence point of view.
In order to maximize efficiency and effectiveness within EAST/WEST, the Group will evolve to EAST BRIDGE/WEST BRIDGE INTEGRATION from current EAST/WEST synergy. It is to determine INTEGRATION functions adjusted to the characteristics of each region and make SBU structure simpler and more efficient.

Through this strengthened management structure, the Bridgestone Group will commit to creating the 8 Bridgestone-like values starting with the letter "E" (Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease, and Empowerment) in the "Bridgestone E8 Commitment "^*1, and to realizing a sustainable society.

< Management structure as of January 1, 2024 >

1. Changing Positions and Responsibilities of Executive Officers
(Effective January 1, 2024)

Name	New	Former
Masahiro HIGASHI	Member of the Board Representative Executive Officer Joint Global COO・ BRIDGESTONE EAST CEO Concurrently Global Chief Administration Officer Concurrently Chair and Representative Board Member of Bridgestone Tire Solution Japan Co.，Ltd.	Member of the Board Representative Executive Officer Joint Global COO Concurrently responsible for BSJP Chair and Representative Board Member of Bridgestone Tire Solution Japan Co.，Ltd. Chair and Representative Board Member of Bridgestone Cycle Co.，Ltd.
Paolo FERRARI	Executive Officer Joint Global COO・ BRIDGESTONE WEST CEO Concurrently Global Chief Digital Transformation Officer BSAM Executive Chair of the Board, Group President BSEMEA Supervisory Board Chair	Executive Officer Joint Global COO Global Chief Business Solution Officer BSAM CEO and President
Masato BANNO	Senior Vice President and Executive Officer Global Chief Technology Officer Responsible for Monozukuri	Senior Vice President and Executive Officer Global Chief Technology Officer Responsible for Technology, Quality Management

2. New Members of Vice President and Senior Officers
(Effective January 1, 2024)

Name	New	Former
Yasuhiro MORITA	Vice President and Senior Officer Bridgestone Corporation BSAPIC Group President Chair of BRIDGESTONE（CHINA） INVESTMENT CO., LTD.	Executive Director BSCAP CEO Chair of BRIDGESTONE（CHINA）INVESTMENT CO., LTD.
Craig SCHNEIDER	Vice President and Senior Officer Bridgestone Corporation BRIDGESTONE WEST Retail Group President	BSAM　Chief Strategy Officer and Group President, Service & Solution Networks

3. Changing Positions and Responsibilities of Vice President and Senior Officers
(Effective January 1, 2024)

Name	New	Former
Yoshikazu SHIDA	Vice President and Senior Officer Responsible for Global Business Support	Vice President and Senior Officer Responsible for Global Corporate Strategy and Talent Creativity Enhancement
Hidekazu KIMIZU	Vice President and Senior Officer Responsible for Governance・Secretary Office; Concurrently Responsible for Corporate Administration, Chief Compliance Officer	Vice President and Senior Officer Responsible for Corporate Administration, Chief Compliance Officer
Sho INOUE	Vice President and Senior Officer, Global Chief Quality Management Officer Responsible for Quality Management	Vice President and Senior Officer, Chief Quality Management Officer Responsible for Quality Management
Kenji YAMASAKI	Vice President and Senior Officer Responsible for Global Tire Manufacturing・Engineering	Vice President and Senior Officer Responsible for Manufacturing and Production Engineering
Akio KUSANO	Vice President and Senior Officer Responsible for Product・Production Technology Development;	Vice President and Senior Officer Responsible for Product Development;

Name	New	Former
Tomohiro KUSANO	Vice President and Senior Officer Responsible for GX・Innovation Technology Development	Vice President and Senior Officer Responsible for Solutions・Exploration・Diversified Products Business　Development
Fumihiko EITOKU	Vice President and Senior Officer Responsible for BSDP Diversified Business and Exploratory Business; Concurrently Chair of Bridgestone Diversified Products Japan Co., Ltd. Chair and Representative Board Member of Bridgestone Sports Co., Ltd. Chair and Representative Board Member of Bridgestone Cycle Co.，Ltd.	Vice President and Senior Officer Responsible for BSJP Diversified Business; Concurrently Chair of Bridgestone Diversified Products Japan Co., Ltd. Chair and Representative Board Member of Bridgestone Sports Co., Ltd.
Shingo KUME	Vice President and Senior Officer Responsible for BSJP Tire Sales; Concurrently responsible for CEO of Bridgestone Tire Solution Japan Co., Ltd.;	Vice President and Senior Officer Responsible for BSJP Tire Sales; Concurrently responsible for CEO of Bridgestone Tire Solution Japan Co., Ltd.;
Yuji MOCHIZUKI	Vice President and Senior Officer Responsible for BRIDGESTONE EAST Tire Production and Internal Manufacturing	Vice President and Senior Officer Responsible for BSJP Tire Production and Internal Manufacturing
Shinichi WATANABE	Vice President and Senior Officer Responsible for BRIDGESTONE EAST Chief Quality Officer・Quality Management	Vice President and Senior Officer Responsible for BSJP CQO・Quality Management
Nobuyuki TAMURA	Vice President and Senior Officer, Responsible for G-MICA (Global Mining, Industrial, Construction, Aviation Tire Solutions); Concurrently responsible for Global OE	Vice President and Senior Officer, Responsible for G-MICA (Global Mining, Industrial, Construction, Aviation Tire Solutions); Concurrently responsible for Global OE

Name	New	Former
Scott DAMON	Vice President and Senior Officer of Bridgestone Corporation BRIDGESTONE WEST BMS (Bridgestone Mobility Solutions) Group President	Vice President and Senior Officer of Bridgestone Corporation BSAM COO
Laurent DARTOUX	Vice President and Senior Officer of Bridgestone Corporation BSEMEA Group President Concurrently Global Sustainability Initiative Lead (in charge of WBCSD(World Business Council for Sustainable Development) /TIP( Tire Industry Project) /GPSNR(Global Platform for Sustainable Natural Rubber))	Vice President and Senior Officer of Bridgestone Corporation BSEMIA CEO and President
Emilio TIBERIO	Vice President and Senior Officer of Bridgestone Corporation BRIDGESTONE WEST Chief Technology Officer	Vice President and Senior Officer of Bridgestone Corporation BSEMIA COO and Chief Technology Officer
Christopher NICASTRO	Vice President and Senior Officer of Bridgestone Corporation BSAM Vice Chair of the Board, Executive Vice President, Chief Legal Officer, General Counsel, Secretary and Chief Compliance Officer BSEMEA Supervisory Board Vice Chair	Vice President and Senior Officer of Bridgestone Corporation BSAM Chair of the Board, Executive Vice President, Chief Legal Officer, General Counsel, Secretary and Chief Compliance Officer

「The Bridgestone Group newly established its corporate commitment, the "Bridgestone E8 Commitment" to realize its vision: "Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company." This commitment will serve as the Group's axis to drive management while earning the trust of future generations. The "Bridgestone E8 Commitment" consists of 8 Bridgestone-like values starting with the letter "E" (Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease, and Empowerment) that the Group will commit to creating through Bridgestone-like "purpose" and "process", together with employees, society, its partners and customers to realize a sustainable society.
Bridgestone E8 Commitment Web page

About Bridgestone Corporation:
Bridgestone is a global leader in tires and rubber building on its expertise to provide solutions for safe and sustainable mobility. Headquartered in Tokyo, the company employs approximately 130,000 people globally and conducts business in more than 150 countries and territories worldwide. Bridgestone offers a diverse product portfolio of premium tires and advanced solutions backed by innovative technologies, improving the way people around the world move, live, work and play.