A consortium led by trading house Marubeni Corp. has proposed making BMW Tokyo Corp. President Fumiko Hayashi the new president of ailing supermarket chain Daiei Inc., sources said Wednesday.
The consortium, which includes Advantage Partners Inc., made the proposal in a tender organized by the Industrial Revitalization Corp. of Japan, the sources said.
Marubeni has been unofficially selected as the sponsor for rebuilding the troubled supermarket chain.
Hayashi, 58, known for her experience in the automobile sales industry, was chosen by the Wall Street Journal as one of the world's 50 noteworthy female corporate managers in 2004.
The Marubeni-led consortium concluded that Hayashi could spearhead efforts to turn around Daiei's fortunes and that her nomination would give consumers a favorable impression of Daiei by having the company embark on reconstruction under a new management, the sources said.
IRCJ also demanded that the consortium place excellent managers on the Daiei board, in addition to bringing the president from outside the Daiei group, they said.
The consortium is contending with two other consortiums.
