JAPAN: Nippon Meat confirms chairman will resign, president demoted
Beleaguered Japanese meat processor Nippon Meat Packers yesterday [Tuesday] confirmed that its founder and chairman, Yoshinori Ohkoso, will step down, while his son Hiroji Ohkoso will be demoted from his position of president. The company is responding to damage to its reputation following a beef mislabelling scandal which came to light recently. Japan's largest sausage, maker, Nippon Meat Packers faced a backlash which saw several leading supermarkets pull its products from their shelves. The group's share price has fallen by some 35%, reported Reuters.
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