JAPAN: Daiei founder ousted by board in bid to keep creditors happy
Tadashi Nakauchi, founder and majority owner of beleaguered Japanese supermarket chain Daiei , has been ousted by the company's board. The Daily Yomiuri newspaper learned last week that Nakauchi, who was Daiei's director for 43 years until January of last year when he withdrew from frontline management, has been forced to fully retire from all his other posts within the company. These include chairman of the board of directors for the company's professional baseball team, the Daiei Hawks.
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