Laswson Inc has announced changes to its management structure

Laswson Inc has announced changes to its management structure

Japanese convenience retailer Lawson Inc has confirmed reports COO Genichi Tamatsuka is to be promoted to the role of chief executive.

Effective as of 1 May, Tamatsuka will assume the position of CEO and president, replacing previous CEO Takeshi Niinami who will now become chairman of the company.

Tamatsuka joined Lawson in 2010, having previously served at president of Fast Retailing Co.

In its most recent financial update, for the nine-month period to the end of December, Lawson booked an increase in profit,s driven by gains from its "efficient store-opening strategy". Lawson opened 294 stores in Japan during the period, taking its estate to 11,270 outlets. It also opened 35 stores overseas, including its first in outlets in Beijing and in Thailand.

The company has, however, struggled with weak like-for-like sales exacerbated by declining tobacco revenue. As a result, operating revenue dipped 0.6% in the nine-month period. Lawson has responded by launching freshly-brewed coffee and investing in food ingredients to be prepared and eaten at home.

Show the press release

Lawson, Inc. (Head Office: Shinagawa Ward, Tokyo; Representative Director and CEO: Takeshi Niinami) has announced the executive personnel changes of which were unanimously approved at the Board of Directors Meeting held on March 24, 2014, and will become effective as of May 1, 2014. In addition, the nomination of the Directors and the changes in the Members of the Board were approved and this will become effective following the adoption of the resolutions at the 39th Ordinary General Meeting of Shareholders to be held on May 27, 2014. Furthermore, the changes in the Representative Directors were approved and this will become effective subject to board approval to be held on May 27, 2014.

Representative Directors and Corporate Officers < Effective as of May 1, 2014 >

Takeshi Niinami New Position: Chairman, Representative Director Current Position: Chief Executive Officer, Representative Director Genichi Tamatsuka New Position: President and CEO, Representative Director Current Position: Chief Operating Officer Representative Executive Officer, Member of the Board Sadanobu Takemasu New Position: Senior Executive Vice President Representative Executive Officer Current Position: Mitsubishi Corporation

< Effective following the adoption of the resolution at the Ordinary General Meeting of Shareholders and board approval on May 27, 2014 >

Takeshi Niinami New Position: Chairman, Member of the Board Position from May 1st: Chairman, Representative Director Sadanobu Takemasu New Position: Senior Executive Vice President, Representative Director Position from May 1st: Senior Executive Vice President, Representative Executive Officer

Original source: Lawson Inc