Suntory Holdings Names New PresidentJune 24, 2014
Japan’s Suntory Holdings has hired a new president to lead its continued overseas expansion, according to multiple reports. Takeshi Niinami, chairman of convenience store chain Lawson, has been named as Suntory’s president, effective in October, when current chairman and president Nobutada Saji will relinquish the latter role. Saji, a grandson of Suntory’s founder, will continue to chair the company. Matt Shattock continues to lead Beam Suntory, the operating unit formed after Suntory’s $16 billion acquisition of Beam Inc. earlier this year.
Niinami is the first top executive at Suntory to be hired from outside the group. He has led Lawson, one of Japan’s biggest convenience chains, for 12 years. The move comes as Suntory continues its drive to expand in global markets and reduce its reliance on domestic Japanese sales, where growth has been difficult to achieve in recent years.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.