Sharp may push its chairman Mikio Katayama into retirement and scrap advisory posts to speed up a business revival.
According to The Wall Street Journal (WSJ) on Sunday, citing unnamed sources, the Japanese electronic maker's main creditor banks Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi, have been seeking Katayama's removal.
A company adviser Katsuhiko Machida and special adviser, Haruo Tsuji, who were appointed for having formerly led the Osaka-based company, are also likely to retire, since chairman Katayama and Machida are considered responsible for expanding the firm's loss-making liquid crystal display business, the sources said.
Sharp is also set to release its mid-term business management plan on May 14, 2013 and its president Takashi Okuda is expected to take the lead in drastically restructuring the firm's operations.
Katayama had become the company's president in 2007, and launched the operations of an LCD factory in Osaka prefacture Sakai, but stepped down and became chairman in 2012, with no representation rights.