Bridgestone increases stake in S African retailer

Bridgestone Corp. has reportedly bought more equity in the South African tyre retail chain, Maxiprest. The Japanese company has increased its shareholding to 70 percent, from 66 percent, after three senior managers left the company, according to local press reports. Chief executive Colin Brown, sales and marketing director Rocky Boulanger and retail sales director Pano Constantinidis all resigned in March of this year, prior to the announcement of poor trading results.

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