Japan Tobacco names Koizumi as next president

JIJI

Japan Tobacco Inc. said Monday Executive Deputy President Mitsuomi Koizumi will become the next president of the company.

Incumbent President Hiroshi Kimura will become chairman without representative rights, while Chairman Yoji Wakui, a former senior bureaucrat at the Finance Ministry, will retire. The appointments will be formalized at a board meeting to follow the company’s general shareholders’ meeting in late June. The change will mark the first time the company hasn’t had a former Finance Ministry bureaucrat serving as either president or chairman since it was privatized in 1985.