March 11, 2013 / 4:16 AM / in 5 years

Japan cosmetics maker Shiseido President Suekawa to resign

TOKYO, March 11 (Reuters) - Cosmetics maker Shiseido Co Ltd said on Monday that President Hisayuki Suekawa will resign and that Chairman Shinzo Maeda will move back to the position.

The Japanese company said in a statement that Suekawa’s resignation was due to health reasons, and that he will stay on at the firm as a senior advisor.

Shiseido shares jumped to a 10-month high earlier in the day, after media reports that Suekawa was being replaced following a reign as president in which profits suffered. (Reporting by James Topham; Editing by Edwina Gibbs)

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