Nissui appoints new CEO

The appointment lead a spate of other appointments by the Japanese seafood company.

Teru Tanaka, Nissui's marine products business operating officer, will step into Hamada's role as of May 14.Photo: Nissui

Rachel Mutter

Correspondent

Japanese seafood company Nissui has appointed a new CEO, with current CEO Shingo Hamada moving to the position of chairman.

Teru Tanaka, Nissui's marine products business operating officer, will step into Hamada's role as of May 14. He has been with the company since 1988.

"In order to swiftly advance the next medium-term plan, we will rejuvenate the top management and further strengthen the management structure, strengthen cooperation between businesses and within the group and aim for further growth and increased corporate value," said Nissui in a press release.

The appointment lead a spate of other appointments announced by Nissui Wednesday.

Inflation, a reduction in demand and concern over the sustainability of some of the country's traditional fisheries are changing the consumer landscape for Nissui.

In a new sustainability push, the company aims to be selling $645 million worth of farmed products by 2030.

While shoring up traditional products – in May, the company acquired processor Musashino Foods as a production base for raw sushi and other processed seafood – Nissui is also moving into new products and markets. In October, Nissui acquired a new processing plant in France through subsidiary Cite Marine in a bid to expand its business scope and enter the fast-growing tapas category.