Obayashi chiefs to resign over officials' involvement in bid rig

Obayashi chiefs to resign over officials' involvement in bid rig

TOKYO, Japan - Takeo Obayashi (file photo), chief executive officer and chairman of Obyayashi Corp., who hails from the contractor's founding family, will step down to take responsibility for the arrest of company officials for alleged bid rigging for a public works project, the company said on June 4. President Norio Wakimura will step down. Toru Shiraishi, 59, senior managing officer, will take over as CEO and president after receiving approval at a shareholders meeting scheduled for June 28. (Kyodo)

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