Kyocera founder to become Japan Airlines CEO

Kazuo Inamori, the founder of Japanese high-tech maker Kyocera Corp., has accepted an offer by the government to become the next chief executive officer of troubled Japan Airlines, Kyodo News said yesterday. Mr Inamori, the 77-year-old honorary...

Kazuo Inamori, the founder of Japanese high-tech maker Kyocera Corp., has accepted an offer by the government to become the next chief executive officer of troubled Japan Airlines, Kyodo News said yesterday.

Mr Inamori, the 77-year-old honorary chairman of Kyocera, yesterday reportedly met with officials of the turnaround body overseeing JAL's restructuring and was asked to take the helm of the money-losing airline.

Earlier in the day he had told reporters he would "consider positively" any offer to run JAL, which is on the verge of filing for bankruptcy protection. A JAL spokeswoman said she was unable to confirm or deny the report.

The carrier's current president and chief executive officer Haruka Nishimatsu is expected to step down after the carrier files for bankruptcy proceedings.

Japan Airlines shares dived 81 per cent yesterday to just eight US cents as investors dumped the stock ahead of an expected bankruptcy filing by the debt-ridden carrier.

The government has pledged to avoid a total collapse of the former state-owned airline but has signalled a likely bankruptcy filing, which could aid JAL's recovery efforts while leaving investors out of pocket.

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