TOKYO -- Sompo Holdings Chairman and Group CEO Kengo Sakurada will step down at the end of March over subsidiary Sompo Japan Insurance's ties to embattled used-car dealer Bigmotor, Nikkei learned Monday, as the group seeks a fresh start under new leadership.
Sakurada will be replaced by Mikio Okumura, now president and group chief operating officer. Sakurada will completely step away from Sompo Holdings instead of taking on the customary advisory role. He will also leave the board of Sompo Japan Insurance.
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