Mitsubishi chemical features tapped a 56-year-old belgian to head the team from next year in the first visit of a foreign boss in japan since the 2018 arrest and ousting of carlos ghosn.

Jean-marc gilson, that is the chief executive of roquette, a french ingredients team, could be the very first foreigner to perform japans biggest substance organization which can be part of the 150-year-old mitsubishi team.

The move comes as japanese companies face increasing pressure from people to diversify their particular boards and enhance governance criteria, leading businesses including ntt, softbank and takeda pharmaceutical to improve the number of foreign and female administrators lately.

However the record of international professionals operating japanese businesses was combined. howard stringer struggled to revive sony when you look at the 2000s while michael woodfords brief spell at medical gear manufacturer olympus finished after he exposed an accounting scandal in 2011. more recently, mr ghosn, the previous chairman of nissan, fled from tokyo to beirut in december after facing economic misconduct charges that he denies.

We have no anxiety, mr gilson, whose wife is japanese, said at an on-line development seminar on friday when requested how he feels about operating a japanese business after mr ghosns arrest.

I actually do comprehend some japanese culture. for me personally, mitsubishi chemical holdings is a big name. it is a real attraction for an individual who desires to take the next challenge, he included.

Before getting ceo of roquette in 2014, he invested two decades at dow corning including five years in japan while he is at the us chemicals company.

The change in management comes as mitsubishi chemical deals with big headwinds due to the covid-19 pandemic, with net revenue into the 3 months to summer having dropped 86 percent from a year earlier to y5.2bn ($49.5m), due to lower prices of petrochemicals.

Hitoshi ochi, that will step-down as ceo next year, said brand new administration had been required since the organization seeks to broaden its company to fulfill harder ecological and sustainability goals.

Were in addition fighting the us-china trade dispute. with globalisation once we understood it becoming more tough, we've no choice but to think about diversifying, mr ochi stated on friday.

Mr gilson added the team could possibly have to divest a few of its wide portfolio of companies which ranges from petrochemicals and industrial fumes to healthcare while he dedicated to enhancing the companys profitability.

Japan group, with yearly incomes of $34bn, traces its roots back to 1933 and was formed through a three-way merger in 2017 of mitsubishi chemical, mitsubishi plastics and mitsubishi rayon.