Nippon Steel Corp &lt;NSTC.T> nominated Hiroshi Saito as president to replace Yutaka Takeda subject to shareholders approval at a meeting on June 26 company officials told a press conference. Takeda will become chairman and vice president Akira Miki will be vice chairman they said. Current chairman Eishiro Saito who is also chairman of the Federation of Economic Organisations (Keidanren) a leading Japanese business organisation will act as honorary chairman and advisor they added. Nippon Steel is now undergoing a strict rationalisation program to meet declining demand for steel products.
NIPPON STEEL NOMINATES NEW PRESIDENT