Suntory Holdings announced on Thursday that Executive Vice President Nobuhiro Torii will be appointed as the company's next president in March. This move marks a return to leadership by a member of the founding family for the food and beverage conglomerate.
Takeshi Niinami, who became the first president from outside the family in 2014, will transition to the role of chairman while retaining his position as chief executive officer. Niinami will provide overall support to Torii in his new role.
The announcement comes at a significant time for Suntory. Just months before Niinami's appointment as president, the company acquired U.S. spirits company Beam for $16 billion, including debt. This acquisition marked a major step in Suntory's expansion into overseas markets.
"I intend to solidify the domestic liquor business, improve its sales and profit, and strengthen its profitability," Torii stated at a press conference on Thursday. "This is a prerequisite for us to become a global company and compete with other major global players."
Nobuhiro Torii, a former banker, is the great-grandson of Suntory founder Shinjiro Torii. His appointment as president signals a new chapter for the company, with a focus on strengthening its domestic business and expanding its global reach.