Firm working on Japan postal privatization names 8 executive officers
The board of Japan Post Corp., the company formed in January to prepare for the privatization of Japan’s postal system, appointed its eight executive officers Tuesday, including Sakon Uda, principal at McKinsey & Co., and Akira Uno, former chairman of SMBC Consulting Co., company officials said.
Most of the other new executive officers come from Japan Post, the public corporation for postal services, and the Financial Services Agency, according to the officials. The appointments will take effect on March 6 for Uda and March 21 for the others.
The selection of the executive officers is designed to expedite the ordinary operations of the new stock company, industry sources said. The company’s management is still having difficulty selecting the presidents of four new companies to be set up to handle mail delivery, post office operations, postal savings and insurance services in the course of the privatization starting in October 2007.
Uda, 50, served in 2004 as a member of a blue-ribbon government panel which was formed to draw up postal privatization legislation.
Uno, 63, was previously director at former Sumitomo Bank, which is now Sumitomo Mitsui Banking Corp. under Sumitomo Mitsui Financial Group Inc. and became chairman at SMBC Consulting in 2003.
The eight executive officers will be tasked with deciding business models for the four corporate entities and transferring Japan Post’s staff and assets to the four firms.
