Companies

Kobayashi Pharma Chairman, President Step Down Over “Benikoji” Red Rice Mold Issue; Senior Executive Yamane Becomes First Non-Family Company President

Yomiuri Shimbun file photo
Resigning Kobayashi Pharmaceutical Co. President Akihiro Kobayashi, second from left, speaks at a press conference in March.

The Yomiuri Shimbun

14:02 JST, July 23, 2024

Kobayashi Pharmaceutical Co.’s Senior Executive Director Satoshi Yamane has been promoted to the post of company president after its chairman and president resigned to take responsibility for health problems caused by the company’s supplements containing “benikoji” red rice mold.

The appointment of Yamane, 64, and the resignations of Chairman Kazumasa Kobayashi, 84, and President Akihiro Kobayashi, 53, were approved at a special meeting of the board of directors on Tuesday morning.

After stepping down as chairman, Kazumasa will become a special adviser. After leaving his post as a director without representative rights, Akihiro will concentrate on dealing with a series of problems and establishing compensation for those harmed by the supplement.

Until now, Kobayashi Pharmaceutical has always been headed by a member of the company’s founding family, so Yamane will be the first non-founder to serve as president of the company.