Department store chain Marui Co. said Thursday it has nominated Executive Vice President Hiroshi Aoi, 44, to replace his father, Tadao, as president on April 1, marking the first change in the top post in 33 years.
Tadao Aoi, 72, will become chairman after serving as president since 1972, when he took over the post from his father, Chuji Aoi, who founded Marui.
The top management reshuffle follows the completion of Marui’s restructuring, which included transferring 95 percent of its employees to subsidiaries in 2003.
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