Inamori to give up JAL directorship
(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, March 7 -- (Kyodo) _ Japan Airlines Co. Chairman Emeritus Kazuo Inamori will give up his directorship at the airline as of March 31, a person familiar with the matter said Thursday.
Although Inamori will retain the honorary chairmanship, his duties will be limited to advising the current management team of JAL, which has revived itself following bankruptcy protection in 2010, the person said.
In February 2010, Inamori, founder of the electronics manufacturer Kyocera Corp., assumed the chairmanship of the airline in response to a plea by the government of then Prime Minister Yukio Hatoyama, a month after it filed for bankruptcy protection.
Inamori said he earlier intended to limit his involvement in JAL's management to around three years.
JAL regained its financial health due partly to public assistance from a government-backed corporate turnaround body. Inamori is also credited with instilling in JAL managers more of a focus on profitability.
JAL post a record group operating profit of 205 billion yen in the year to March 31, 2012. Last September, the airline was relisted on the First Section of the Tokyo Stock Exchange.
(c) 2013 Kyodo News International, Inc.
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