Aflac’s Lake Named First Non-Japanese Tokyo Stock Exchange Director

Tokyo Stock Exchange (TSE) Chairman and President Taizo Nishimuro announced that Charles Lake, Aflac Japan vice chairman, has been selected as an external director. Lake, 44, will be the first non-Japanese appointed to this post since the TSE, or Nikkei, became a stock company in 2001. His appointment will be officially approved on June 22 at a general stockholders meeting.

Lake is a former U.S. trade representative. He joined Aflac Japan in 1999. In 2003, he became president of the company and has served in his current role of vice chairman since 2005. In his new position, Lake is expected to provide advice on overseas strategies and other matters.

The TSE also picked journalist Nobuko Takahashi, 52, as its first woman external director.

Current board members Yasuo Kuramoto, a Fidelity Investments Japan Ltd. vice chairman, and Nobuo Tateisi, an Omron Corp. (6645) advisor, are expected to resign. Lake is expected to replace Kuramoto, and Tateisi is being replaced by Takahashi.

Aflac’s bulletin notes: “For 50 years, Aflac products have given policyholders the opportunity to direct cash where it is needed most when a life-interrupting medical event causes financial challenges. Aflac is the number one provider of guaranteed- renewable insurance in the United States and the number one insurance company in terms of individual insurance policies in force in Japan. Aflac’s insurance products provide protection to more than 40 million people worldwide.”

Topics Japan