Credit card firm JCB Co. has selected its vice president, Tamio Takakura, to succeed President Hiroya Nobuhara, company sources said Tuesday.
Nobuhara, 65, is stepping down because the on-going project to renovate the company's computer systems is almost complete and management believes it is time to hand over the president's job to a younger official after four years, the sources added.
The appointment of Takakura, 61, is contingent upon shareholder approval at a meeting June 26.
After graduating from Kobe University, Takakura joined Sanwa Bank, now part of Mitsubishi UFJ Financial Group Inc., in 1968.
He began working as an adviser to JCB in February 2002 and became vice president that June.