Supermarket chain Daiei Inc. held an extraordinary shareholders' meeting Friday in Kobe to introduce its new management team, including five new board members from its top shareholder, trading house Marubeni Corp.
Among the five, Vice President Toru Nishimi, 58, is a former senior vice president with Marubeni. After the meeting, the new nine-member board promoted Nishimi to the post of president, replacing Yasuyuki Higuchi, 48, effective the same day.
Daiei Chairwoman Fumiko Hayashi, 60, stayed on, but is no longer CEO because the post has been abolished. Higuchi was also named an adviser, but waived retirement benefits for the post.