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Toray Defies Traditions of Seniority

Katsunosuke Maeda was surprised recently when he was chosen president of Toray Industries Inc. (Tokyo), Japan's largest fiber manufacturer. Outgoing president Yoshikazu Ito broke from tradition and bypassed 14 senior executives to name Maeda, who has been a member of the board of directors for...

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Bibliographic Details
Published in:Chemical week 1987-05, Vol.140 (19), p.23-23
Main Authors: Ushio, Shota, Block, Paula M
Format: Magazinearticle
Language:English
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Summary:Katsunosuke Maeda was surprised recently when he was chosen president of Toray Industries Inc. (Tokyo), Japan's largest fiber manufacturer. Outgoing president Yoshikazu Ito broke from tradition and bypassed 14 senior executives to name Maeda, who has been a member of the board of directors for less than 2 years. Ito believes that Maeda's vitality can help direct Toray through the current difficult period. The strength of the yen has hurt the profitability of Japanese synthetic fiber exporters. Toray's net profits dropped nearly 57% during the first half of fiscal 1986, and the company has reduced its employee roll from 12,600 to 11,000 in the past 2 years. Maeda has demonstrated a talent for product development and plans to accelerate work in that area to increase profits. Basic research for new products and technology in nonfiber lines will be increased; Maeda also expects to continue support of Toray's joint ventures in Southeast Asia. Others in the business suggest that Maeda's open and straightforward management style and his visibility at plants will help to reshape the company.
ISSN:0009-272X
2163-3126