Suntory Holdings chair and CEO, Takeshi Niinami, has resigned following a police investigation into supplements he purchased allegedly contained an illegal substance, breaching the country’s strict drug laws.
Niinami has told the Asahi newspaper that he was not aware it was an illegal supplement and was innocent. Media reports have speculated the supplements contained cannabis extract THC - illegal in Japan - not CBD, a different cannabis extract that is legal.
Suntory said they were told by Niinami about the investigation. While the legality of the supplements should be deferred to authorities, the company said, “for the top executive management of Suntory Group, strict compliance with laws and regulations is fundamental, and exercising appropriate caution in purchasing supplements is an indispensable quality”.
It said despite still waiting for the outcome, the “lack of awareness” rendered Niinami unable to stay in the job.
Niinami was the first company CEO and president that was not a family member and took the helm in 2014. In March, Nobuhiro Torii, the great-grandson of company founder, Shinjiro Torrii, became president, with Niinami retaining the CEO role and taking on the chair title.
Torii said, “He was a bold, decisive and capable business leader. For the 10 years he was with the company, he significantly expanded the company’s sales and profitability. That is an undeniable fact.”
