Suntory CEO Resigns Amid Drug Probe Allegations

Takeshi Niinami, the chief executive officer of Suntory, has tendered his resignation following an investigation into alleged illegal drug possession. The move comes as Nobuhiro Torii, the president of Suntory Holdings, confirms the company has accepted Niinami's decision to step down.

Torii, who hails from Suntory's founding family, refrained from disclosing specific details about the type of drug involved, noting that the case is still active. Niinami, 66, was acknowledged for his leadership, which significantly bolstered Suntory's growth over the past decade.

The resignation underscores the importance placed on accountability in Japanese corporate culture, with company officials stressing that, regardless of the investigation's outcome, Niinami was deemed unfit for his role. Suntory's market shares surged by 2.9% following the announcement.

(With inputs from agencies.)