Rizap COO Matsumoto to Step Down

Society

Tokyo, April 24 (Jiji Press)--Fitness club chain Rizap Group Inc. <2928> said Wednesday that Akira Matsumoto, 71, will step down as chief operating officer on June 22.

He will become a special adviser the same day, Rizap said.

After achieving a turnaround of Calbee Inc. <2229> as chairman and chief executive of the snack food maker, Matsumoto became COO of Rizap to rebuild the company in June last year.

"Emergency structural reform measures have been put in place," he said in a comment released by the company.

Rizap is expected to log a group net loss of 7 billion yen for the year that ended in March, due to poor business performances at companies it acquired.

[Copyright The Jiji Press, Ltd.]

Jiji Press