Toyo shareholders confirm new execs

Osaka, Japan – Toyo Tire & Rubber Co. Ltd. shareholders have approved the hiring of industry outsider Katsumi Komaguchi as chairman.

He fills a position vacated 1 July by Akira Nobuki, who resigned in the wake of a scandal involving non-compliant earthquake-proof seismic isolation rubber bearings sold in Japan.

Shareholders also approved the promotion of Takashi Shimizu, previously a director with multiple tire business unit responsibilities, to president and group executive officer, tire business. He succeeds as president Takuji Yamamoto – who was reassigned as a special…

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