Pasona Founder Nanbu to Retire at End-May

Tokyo, April 15 (Jiji Press)--Pasona Group Inc. has said that its president and CEO, Yasuyuki Nanbu, 73, the founder of the major Japanese staffing agency, will step down at the end of May.

He will also leave the board of Pasona, according to the company's announcement on Monday.

After Vice President Hirotaka Wakamoto, 64, becomes new president on June 1, Managing Executive Officer Shintaro Nakao, 50, will take over the position of president after a general shareholders' meeting on Aug. 22. Wakamoto will step aside to the post of chairman with a representation right.

With Pasona this year marking the 50th anniversary of its foundation, Nanbu offered to resign with the hope that "the younger generation will build the new Pasona Group for the next 50 years," the company said.

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