Shiseido
This article was originally published in The Rose Sheet
Executive Summary
Shinzo Maeda to President & CEO, pending shareholder approval at firm's ordinary general meeting and board of directors meeting in June, Shiseido announces Feb. 4. Maeda replaces Morio Ikeda, who will become director and chairman of the board. Shiseido's cosmetic sales increased 3% to $3.6 bil. (¥1=$.009), while toiletries sales dropped 4.7% to $432.7 mil., the Japanese firm reports Jan. 31. In the Americas, sales were flat at $304.4 mil. Shiseido's overall net sales increased 2.7% to $4.5 bil. in the first nine months of the firm's year, while net income jumped 16.1% to $131.3 mil. For the year, however, Shiseido anticipates recording a consolidated net loss of $133.9 mil., compared to earlier predictions of $114.7 mil. profit. Change is due to $186.9 mil. charge related to the implementation of a special early retirement incentive plan...