Nippon Sheet Glass saw its shares plummet on 27 Aug/09, only a day after it had announced that Stuart Chambers, who is widely credited with making the firm a global presence, will resign as CEO at the end of Sept/09. Chambers was previously president of Pilkington, acquired by Nippon Sheet in 2006. Chambers, who is said to be stepping down due to family matters, will assume the post of senior adviser at the company. Nippon Sheet also said that Katsuji Fujimoto will become its president & chief executive officer again as of 1 October, after being chairman since June 2008. Current chairman of the board of directors of the company, Yozo Izuhara, will take on the role of non-executive chairman of the group. According to Fujimoto, the new management team will serve for over 1 year, until it establishes a long-term management structure and sets up the next growth strategy.
