Tokyo - Sharp said Wednesday that company president Mikio Katayama has been named chairman and director, replacing Katsuhiko Machida, who is retiring and will be named a corporate adviser, effective April 1.

Takashi Okuda will replace Katayama as president.

Katayama is also scheduled to be assigned as representative director after receiving approval at the upcoming shareholders' meeting in June. Okuda was most recently Sharp's executive managing officer, general manager, global business, administration and manufacturing promotion; and group general manager, global business group.

Okuda has been with the company since 1978.