The Japan Association of Corporate Executives, known as Keizai Doyukai, made the decision to name Akio Yamaguchi, the General Manager and President of IBM Japan, as its new chairperson. Yamaguchi is set to take on the position that has remained unfilled since the departure of former Suntory Chairman and CEO Takeshi Niinami on September 30 amidst a police inquiry related to his purchase of supplements.
The decision was ratified during a special executive session and will come into force on January 1 of the upcoming year.
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"I hope to present (policy proposals) to achieve people's well-being through the use of technology," Yamaguchi says.
The incoming chairman will be tasked with the responsibility of reconstructing the organization in the aftermath of Niinami's sudden departure, as well as enhancing the organization's impact on the revival of the Japanese economy.
Yamaguchi, who has held the position of vice chairman within the organization since April 2022, is poised to become the first chairperson of Keizai Doyukai hailing from IBM Japan since Kakutaro Kitashiro assumed the role in 2003.
Yamaguchi, originally from Wakayama Prefecture, commenced his career at IBM Japan in 1987 and ascended to the role of president in May 2019.
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Additionally, he holds membership in the Fiscal System Council, providing counsel to the finance minister.
Additionally, reports indicated that despite reservations from a few members, Takeshi Niinami, the president of Suntory Holdings Ltd., is likely to be appointed as the next chairman of Keizai Doyukai (Japan Association of Corporate Executives). The tenure of the present chairperson, Kengo Sakurada, who serves as the head of Sompo Holdings Inc., is set to conclude in the upcoming spring season.
The business organization, considered one of the top three in Japan, is expected to issue a statement shortly following the consensus reached by its executive board comprising approximately 300 senior members. In November, a selection committee meeting was convened by Sakurada, Yoshimitsu Kobayashi, a former group chairman who currently serves as the chairman of Tokyo Electric Power Company Holdings Inc., along with other individuals.
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The decision to appoint Niinami, who is presently serving as the vice chairman of Keizai Doyukai, was endorsed by the majority in attendance at the meeting. Some members of the group raised concerns regarding Niinami's infrequent attendance at Keizai Doyukai meetings and events, citing it as an issue. There were also reservations expressed about Niinami's ability to dedicate sufficient time to Keizai Doyukai activities, given his busy schedule as the active president of Suntory and a participant in the central government's Council on Fiscal and Economic Policy.