Dentsu Inc names new president and CEO following Tadashi Ishii's resignation

Dentsu Inc has appointed Toshihiro Yamamoto as president and CEO. This follows the recent resignation of former head Tadashi Ishii earlier this month in which Yamamoto will be his replacement.Other board and management changes include the appointment of Shoichi Nakamoto as representative director, senior executive vice president and representative director. Prior to his new role, Nakamoto was director and senior executive vice president and CFO. He has been with the agency since 1973.Meanwhile, Yoshio Takada takes on the role of representative director and executive vice president. He is currently director, member of the board, and executive vice president. He has been with Dentsu since 1977.These changes will become effective on 23 January 2017.“My mission is to re-establish trust in Dentsu in Japan, and build a sustainable growth path for the long term. I believe it will become a reality with the improvements we are making to create a more flexible working environment where our diverse talents will thrive to help create value for our clients and professional fulfilment for our people,” Yamamoto said.On Tuesday, Dentsu revealed that it had completed its investigations following its overbilling scandal in 2016. The investigation involved the evaluation of data of around 214,000 invoices issued for digital advertising services in Japan between 1 November 2012 and 31 July 2016. The investigation revealed 997 cases) encompassing 96 advertisers. There were 40 cases of overcharging based on incorrect volumes  to 10 advertisers, the amount totaling 3.38 million.Other than reports presenting incorrect total posting volumes, the investigation also found faults with incorrect posting details, non-presentation of daily reports and omissions causing invoicing inaccuracies.The committee, chaired by Shoichi Nakamoto, senior executive vice president and CFO, and external attorneys, drew on advice from third-party professionals to identify issues and their causes and to formulate measures to prevent recurrence.