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Uniqlo founder aims to hand over presidency in 2 years

Fast Retailing's Yanai looks for successor from within company

Fast Retailing's Tadashi Yanai says he will step down as president after turning 70 but remain on as chairman.

TOKYO -- Tadashi Yanai plans to vacate his role as president of Fast Retailing upon turning 70 in around two years, he told The Nikkei on Friday, but will continue as chairman to watch over the company that he founded.

The head of the Japanese company behind the Uniqlo casual apparel brand stressed the need for the physical strength and technological know-how of young managers to make quick decisions and keep up with the ever-changing fashion industry.

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