Kawasaki Heavy ends Mitsui merger talks, demotes president
TOKYO, June 13
TOKYO, June 13 (Reuters) - Kawasaki Heavy Industries Ltd said on Thursday it had ended merger talks with shipbuilding rival Mitsui Engineering & Shipbuilding Co Ltd and demoted its president, Satoshi Hasegawa, who supported the discussions.
In a rare public dismissal in a country where boardroom tussles are often kept private, Kawasaki Heavy said in a news release that Hasegawa would return to being a director at the heavy machinery maker and be replaced by Vice President Shigeru Murayama. (Reporting by Tim Kelly and Kentaro Sugiyama; editing by Jason Neely)