Takeshi Niinami, CEO of Suntory, resigns due to investigation of alleged illegal drug possession. Company accepts resignation. Details vague, investigation ongoing. Niinami credited for company growth, industry respect. Unclear who will replace him. Torii to take full responsibility for business, including overseas operations.

Resignation due to “governance issues.” Japanese culture emphasizes accountability and avoidance of shame. Regardless of innocence, Niinami deemed unfit for job. Alleged drug may have been a personal supplement. Niinami claims ignorance of supplement’s legality. Police probe started last month. Suntory known for whisky, soft drinks, and supplements.

Suntory’s shares in Tokyo gained 2.9% after announcement. Vice President Kenji Yamada and President Nobuhiro Torii discuss Niinami’s resignation. Niinami’s dynamic leadership praised. Torii to take full responsibility. Details on type of illegal drug remain unclear. Police probe started last month. Company to continue operations under new leadership.

Read more at Yahoo Finance: Top Japanese beverage giant Suntory’s chief resigns as he faces a drug probe