JAPAN: Fast Retailing Founder To Step Aside In Reshuffle
Fast Retailing Co, the chain store operator of Uniqlo casual clothing, today announced details of a management shake-up that will see founder Tadashi Yanai moving into the role of chairman to make way for 39-year-old managing director Genichi Tamatsuka as the new president. In the run-up to his promotion as president in November, Tamatsuka will be made vice president on 1 June, while Takashi Sawada, incumbent vice president, will retire from the post on 31 May. At the same time, Fast Retailing will create new two posts of chief executive officer and chief operating officer, with Yanai assuming the CEO position and Tamatsuka becoming COO.
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