Sumitomo Chemical implements changes in corporate governance

Sumitomo Chemical announced the transition to a governance model with an audit and supervision committee. The decision was made by the board of directors on March 3, 2025 and will be submitted for shareholder approval at the Annual General Meeting in June. The change aims to strengthen management oversight and accelerate strategic decision-making.

The company is seeking to improve its corporate governance as part of a structural transformation plan. In recent years, the company has reviewed its management practices to increase the effectiveness of the board of directors.

With the new model, members of the audit and oversight committee will join the board, expanding its monitoring capacity. The company will also strengthen cooperation between this committee and the internal audit department.

The change will allow greater delegation of executive decisions to directors. This will allow the board to focus on formulating medium- and long-term strategies. Sumitomo Chemical emphasizes that this structure will ensure greater agility in decision-making without compromising supervision.

The transition is subject to approval of the company's bylaws at the general meeting in June. The company said it will release details of the bylaw changes and executive appointments as soon as they are defined.