ANA’s Yoshikawa declines president’s post

The feud among top managers at All Nippon Airways took an unusual twist May 29 as the airline announced that its president-designate had withdrawn his nomination and a new president had been appointed.

ANA’s board members agreed to promote Senior Managing Director Kichisaburo Nomura, 62, to president. The appointment will be officially approved at a shareholders’ meeting scheduled for late next month.

The board accepted president-designate Kenzo Yoshikawa’s decision to withdraw his earlier appointment to the post. Yoshikawa, 60, currently president of ANA Real Estate Co, was tapped for the president’s seat less than three weeks ago. He will remain as president of the subsidiary.

He apparently made the decision because his main backers — Honorary Chairman Tokuji Wakasa and Chairman Takaya Sugiura — are quitting. Wakasa announced last week that he is stepping down as a board member after reigning over the company for nearly 30 years.

He will resign from the board, but is expected to keep the title of honorary chairman. In a related development, Wakasa will May 30 become president of the Japan Aeronautic Association, a foundation that promotes gliding and other sports.