KOBE, Japan — Sumitomo Rubber Industries Ltd. (SRI)'s board of directors has approved a succession plan for its executives, promoting Satoru Yamamoto to CEO and Ikuji Ikeda to chairman.
Mr. Yamamoto is an SRI director and has been general manager of SRI's Asia Pacific Regional Headquarters since 2016. He's been with SRI since 1982.
Mr. Ikeda has been president and CEO since 2011. He's been with SRI since 1979.
Sumitomo said these changes were made "in light of planned changes to the company's top management structure in 2019" but did not elaborate beyond these two appointments, which still must be approved by shareholders at the 2019 annual meeting, set for March 26.