TOKYO: Japanese trading house Marubeni said on Wednesday Masumi Kakinoki, 67, its president and chief executive officer, will step down to become chairman of the board effective on April 1, 2025.

Masayuki Omoto, 55, managing executive officer and chief operating officer, will take over as Marubeni’s president and chief executive, the company said.

Omoto first joined the company in 1992 after graduating from Japan’s prestigious Waseda University. Kakinoki was appointed Marubeni’s president and chief executive in 2019 after working nearly 40 years for the company, according to Marubeni records.

Reuters