Japanese c-store retailer FamilyMart has announced that Itochu executive Isamu Nakayama will replace Junji Ueda as its president and CEO.
FamilyMart's board of directors approved the move at a meeting on 27 December, although it remains subject to a shareholder vote at the firm's annual general meeting in May. Unconfirmed reports said Ueda is to become group chairman.
Nakayama is currently managing executive officer for Japan-based Itochu, which recently signed a joint-venture with FamilyMart to develop stores in the Philippines. The first FamilyMart store is set to open there in February 2013.
Overseas expansion is set to dominate Nakayam's agenda at FamilyMart.
Earlier this year, the retailer opened its first stores in China's interior and is targeting 8,000 outlets in China as a whole by 2020. It had 900 stores in the country at the end of May last year.
Show the press release Dec. 27, 2012
Notification of personnel change with respect to the positions of executive officer and president and CEO
At a meeting held on Dec. 27, 2012 of the Board of Directors of FamilyMart Co., Ltd. (Head Office, Toshima-ku, Tokyo; President & CEO, Junji Ueda), a resolution was passed implementing the personnel changes shown below with respect to the positions of executive officer and president and CEO.
Please note that the change in official position of the Company's president and CEO described above will be presented for approval at the Company's General Meeting of Shareholders scheduled to be held in May 2013, and at the meeting of the Board of Directors to be held following the termination of the General Meeting.
1. Appointment of new president and executive officer (effective January 1, 2013) Name New post Former post Isamu Nakayama President & Executive Officer Managing Executive Officer, ITOCHU Corporation 2. Appointment as President & CEO (official assumption of post scheduled following receipt of approval at Regular General Meeting of Shareholders in May 2013) (1) Reason for appointment
To further reinforce the Company's management structure
(2) Name of new president & CEO, and official job title
Name: Isamu Nakayama
Job title: President and Chief Executive Officer
(3) Summary of Career of New President Day, month and year Positions held Share ownership (thousands of shares held) Born
Oct. 12, 1957 April 1981 Joined ITOCHU Corporation - April 1981 Entered Oil & Fats Products Department Oct. 1987 Assigned to Oilseeds International, Ltd. (San Francisco Representative Office) April 1994 Assigned to Oilseeds International, Ltd. as Executive Vice President Oct. 1998 Appointed Head of Planning & Administration Team of Food, Forest Products & General Merchandise Planning Department, ITOCHU Corporation April 1999 Entered Corporate Planning & Administration Division Dec. 2001 Head of Section 1 of Oil seeds, Oils & Fats Department April 2004 General Manager of Oilseeds, Oils & Fats Department April 2006 Jointly acting deputy chief operating officer of Provisions Division and General Manager of Oilseeds, Oils & Fats Department April 2007 Jointly acting deputy chief operating officer of Provisions Division and General Manager of Grain and Feed Department Dec. 2008 General Manager, Corporate Communications Division April 2010 Executive Officer
