Nomination Committee: Nagai and Shareholder Meeting

nomination committee: The vote was held almost a week after Nomura announced several moves to placate investors following the leak and recent losses, including governance changes and a 1.4 billion stock buyback. ; But those reforms particularly tweaks to how it selects its top executives are also likely to weaken the influence of management over who eventually succeeds Nagai, the bank's longest-serving CEO in three decades, according to The Japan Times. By stripping Chairman Nobuyuki Koga of his role as head of the key nomination committee in favor of an external director, Nomura may break from the traditional way that Japanese financial firms choose their leaders when the time comes for Nagai to step down. CEO Koji Nagai was re-appointed at an annual shareholder meeting alongside nine other nominees proposed by the company, Japan's biggest brokerage said in an emailed statement. That could be just what the loss-making brokerage needs to meet its long-term challenges, according to Morningstar Inc. analyst Michael Makdad. It is possible the company would choose a candidate open to a broader range of strategic moves than if it chose a protege of Nagai who might defer to some degree to the opinions of former CEOs. Rather than Nagai or Koga having a large say in who will be the next CEO, Nomura will try to have a selection process that is as independent as possible, Makdad said. (news.financializer.com). As reported in the news.