The failed supermarket chain Mycal Corp. announced Friday that Kazuo Urano, a director, has taken over the presidency from Kozo Yamashita, who only held the post for two weeks.
The change will make it easier for Mycal to find backers for its stores and seek financial support from its main banks, including Dai-Ichi Kangyo Bank, company officials said.
Yamashita, 52, only took over the presidency from Osamu Shikata on Sept. 14, when Mycal, Japan's fourth-largest supermarket chain, filed for court protection from creditors with 1.74 trillion yen in group liabilities.