TonenGeneral announces management reshuffle after acquisition

TonenGeneral Sekiyu KK said it will promote a Japanese national to president who will be part of a new management team, after it acquired the local operations of ExxonMobil Corporation. The sale of ExxonMobil Yugen Kaisha, which is scheduled on June 1, will reduce the U.S. oil giant’s ownership in TonenGeneral by 22%. After the sale, the company, which now specializes in refining, will become an integrated business that will handle sales as well. Jun Mutoh, currently managing director, will become the company’s president. “We’re aiming for even faster decision-making for the Japanese market,” Mutoh said. Philippe Ducom, who now serves as president, will become chairman, and Takashi Hirose will be the company’s vice president. (April 13, 2012)