Takeshi Niinami relinquished his position as leader of Japan’s second-largest business lobby, following his resignation as Suntory Holdings Ltd.’s chief executive after police searched his home for suspected cannabis-based products.
The outspoken executive denied possessing any illicit drugs at the organization’s last news conference four weeks ago. Deputy director Mutsuo Iwai, chairman of Japan Tobacco Inc., will serve as acting representative director until a new leader is appointed, the Japan Association of Corporate Executives said in a statement Tuesday.
