Nippon Paint hires ousted chief of Tokyo-backed fund JIC

Masaaki Tanaka tasked with turning around struggling coating supplier

Nippon Paint will count on the experience of Masaaki Tanaka, who resigned as president of Japan Investment Corp. in December 2018, to help bolster overseas operations. (Photo by Shihoko Nakaoka)

NATSUKO KATSUKI, Nikkei staff writer

February 28, 2019 06:26 JST

OSAKA -- Japan's Nippon Paint Holdings on Wednesday named Masaaki Tanaka, who briefly headed the country's biggest public-private fund last year, as its new executive chairman.

Tanaka will replace current Chairman Goh Hup Jin, who also heads Singapore's Wuthelam Group, Nippon Paint's top shareholder. Goh became chairman after a boardroom coup at the Osaka-based paint maker last year. Tanaka assumes the role on March 27, with Goh to remain on the board.