Daiwa House CEO Higuchi to Leave Post

Economy Society

Osaka, May 13 (Jiji Press)--Japan's Daiwa House Industry Co. <1925> said Monday that Chairman and Chief Executive Officer Takeo Higuchi will resign from the posts of representative director and CEO.

Higuchi, 81, will become a director without representative powers and retain his role as chairman. He will be replaced as CEO by Keiichi Yoshii, 60, the current president and chief operating officer.

The personnel changes will be effective from June 25.

Higuchi assumed the role of president in April 2001. He took the chairmanship with representative rights in April 2004.

It is the first time in 18 years that Higuchi has lost his representative powers.

[Copyright The Jiji Press, Ltd.]

Jiji Press