Shiseido has appointed Hisayuki Suekawa as its new President & CEO. Mr. Suekawa, 51, will succeed Shinzo Maeda, 63, who will become chairman on the 1st of April 2011.
During its six-year term at the head of the Japanese cosmetics giant, Mr. Maeda actively promoted the strengthening of Shiseido’s overseas business. The company has been taking on the challenge of becoming a global player in the cosmetics world. The company thus developed the global coverage of the “Shiseido” brand, which is now available in 83 countries, actively entered emerging markets, and accelerated its business growth in China. Shiseido also acquired U.S. make-up company Bare Escentuals for US$1.7 billion last year.
In Japan the company promoted various initiatives to improve its performance, including a reduction in the number of brands/lines. Shiseido also restructured its beauty consultant and sales force activities.
Simultaneously to these growth strategies both inside and outside Japan, Mr. Maeda also implemented various structural reforms, such as outsourcing some operations and functions with the goal of improving the group’s profitability.
The new President’s mission is to continue to reform the company in orderto transform Shiseido in a true global player. Mr. Suekawa will have to launch the second 3-Year phase of Shiseido’s 10-year roadmap, which should mark the company’s return into “a growth trajectory”.
