A Canon spokesman confirmed Bamba's retirement, but declined to be drawn on who would succeed him.

 "We are not able to comment at this time as the decision requires resolution by Canon Inc.'s board of directors at a meeting to be held on 29 March 2012 following the company's ordinary general meeting of shareholders," he added.

According to the company's annual report for the year ended 31 December 2011, which was published on the IR section of Canon's website on 6 March, Canon Europe president and chief executive Ryoichi Bamba is one of five directors to retire at the end of Canon's ordinary general meeting, which is scheduled for 29 March 2012.

Van Iperen has worked at Netherlands-based Océ, which was acquired by Canon in March 2010, for more than 30 years and has been been a member of its board of directors since 1995.

He was appointed chairman of the board of directors of Océ on 1 September 1999.