Takeshi Niinami, the chief executive of Suntory, has resigned after police raided his home as part of an investigation into suspected illegal supplements. The owner of Jim Beam and Laphroaig confirmed the resignation on Tuesday, sending shockwaves through Japan's corporate world.
According to reports, police are investigating Niinami over a possible violation of Japan's strict cannabis laws. Media outlets said officers searched his luxury apartment in Tokyo last month and took a urine sample, though no illegal substances were found. Niinami is suspected of importing products containing THC, the psychoactive ingredient in cannabis, from the US.
Niinami has denied any wrongdoing. Suntory president Nobuhiro Torii said the executive told the company he bought the supplements believing they were legal. Torii added that Niinami's actions 'inevitably fall short of the qualities required' of a chief executive, and the board accepted his resignation without waiting for the police investigation to conclude.
Niinami, a Harvard-educated executive, joined Suntory in 2014 as the first non-family CEO. He oversaw the $16bn acquisition of Jim Beam in 2014 and was known for criticising traditional Japanese business practices. His departure raises questions about the future of his global expansion strategy.
