Sportswear maker Descente Ltd. said Monday it has appointed a new head from top shareholder Itochu Corp., effective in June, after the trading house succeeded in completing a hostile takeover earlier this month.
Descente President Masatoshi Ishimoto, a member of the company's founding family, will be replaced by Shuichi Koseki, senior managing executive officer in charge of Itochu's textile division, pending shareholder approval at the annual meeting in June.
The move reflects a major concession on the part of Descente, which owns the rights to sell such brands as Le Coq Sportif, Munsingwear and Umbro in Japan and other parts of Asia.