TOKYO, Japan: Takeshi Niinami, chief government of Japanese beverage large Suntory, has resigned amid a police investigation into his alleged possession of an unlawful drug.
Suntory Holdings President Nobuhiro Torii, a member of the founding household, confirmed the resignation late final week, saying the corporate had accepted Niinami’s resolution. He declined to offer specifics on the substance concerned, noting that the case stays beneath investigation.
Niinami, 66, has been a distinguished determine in Japan’s enterprise group. He is broadly credited with driving Suntory’s robust development since turning into CEO in 2014. Under his management, earnings and gross sales rose considerably, and he performed a number one function in trade lobbying efforts with the federal government.
“He was a dynamic and decisive leader whom I respect greatly. During his decade at the helm, both profits and sales grew dynamically,” Torii informed reporters.
Torii didn’t title a successor however stated he would assume full accountability for the corporate’s operations, together with its world enterprise, as he had already been sharing management duties with Niinami.
Torii praised Niinami’s contributions however stated the resignation was unavoidable as a consequence of “governance issues.” Vice President Kenji Yamada added: “Regardless of the outcome of the investigation, we feel he is not fit for the job.”
Both Torii and Yamada advised the alleged drug might have been a complement Niinami bought privately, quoting him as saying he didn’t understand it was unlawful. They confirmed police started their investigation final month however declined to present additional particulars.
In Japan, it’s customary for executives to step down if their actions embarrass their firm. This displays cultural norms that emphasize accountability and the avoidance of disgrace.
Suntory, based in 1899 and famend for its whisky, beer, comfortable drinks, and dietary supplements, introduced the resignation after markets closed. Its Tokyo-listed shares rose 2.9 p.c on September 2.