Takeshi Niinami, the reform-minded CEO of Suntory Holdings Inc., resigned after a police search of his home related to allegations of illegal drug use involving supplements. Suntory's president stated the company would work to regain trust following the resignation. Niinami, also chair of Japan’s second-largest business lobby, was a vocal advocate for corporate reform and globalization before his resignation. The incident has caused volatility in Suntory’s stock and spotlighted the challenges faced by corporate leaders amid legal scrutiny in Japan’s traditionally cautious business environment.
Get the Daily Brief