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Idemitsu says CEO re-elected to company's board
June 29, 2017 / 3:21 AM / 6 months ago

Idemitsu says CEO re-elected to company's board

TOKYO, June 29 (Reuters) - Idemitsu Kosan Co said its chief executive was re-elected to the company’s board at an annual shareholders’ meeting on Thursday, overcoming opposition from the founding family which holds around a third of the Japanese refiner.

The founding family had said it would vote against the re-election of the CEO, Takashi Tsukioka, and several other board candidates who have been pushing for a full merger with smaller rival Showa Shell Sekiyu.

The founding family opposes the merger plan. (Reporting by Osamu Tsukimori; Editing by Chris Gallagher)

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