Canon’s Mitarai Steps Down as President

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TOKYO (Dow Jones) — Canon Inc. said Wednesday that Fujio Mitarai is stepping down as president, although the 80-year-old businessman will stay on as chairman and chief executive.

Current Senior Managing Director Masaya Maeda is slated to become president and chief operating officer, upon approval at shareholder and board meetings on March 30.

Mr. Mitarai, also the former head of Japan’s most powerful business lobby, became president of Canon in 1995, having started his career at the digital camera and office equipment maker 55 years ago.

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