Bridgestone Corp. said it is updating its corporate governance structure “in order to better support the company’s twin goals of ‘becoming a truly global company’” and being “the absolute and clear leader in all aspects of its business” – termed “dan-totsu” in Japanese.

This is an extension of Bridgestone’s original 2013 management plan that set in motion a focus on three priorities: cultivating global corporate culture, developing human resources capable of global management, and upgrading its global management structure.

The Bridgestone board of directors approved the adoption of the “Company with Nominating Committee, etc.” model of corporate governance, a shift from the current “Company with Board of Company Auditors” structure, which the company has followed since 1993.

The new governance structure will become effective upon approval of amendments to the Company’s Articles of Incorporation, reflecting this change at the Annual Shareholders’ Meeting scheduled for March 2016.