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Sanyo appoints new president amid controversy

April 2nd, 2007 · No Comments

Sanyo president Toshimasa Iue has stepped down to be replaced Seiichiro Sano, former VP and general manager of human resources. It’s the latest management reshuffle from a company that has found itself mired in controversy. Sanyo is currently under investigation by the japanese securities commission over alleged accounting irregularities and has recorded three years of fiscal losses. Iue, the grandson of company founder Toshio Iue, will become chairman.
Says Sano: “I have no experience of directly heading business operations, but I have been watching the ups and downs of Sanyo businesses from the company headquarters. I believe this experience will serve me well.”

Tags: Miscellaneous items · Trade

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