Japanese beauty giant Shiseido Group has announced the official retirement details of its current chairman and chief executive officer, Masahiko Uotani.
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Group veteran, Kentaro Fujiwara, will succeed him in the position, effective January 1, 2025.
“Effective January 1, 2025, Masahiko Uotani will act as senior adviser for the Shiseido Group and, upon request by the management team, provide advice, support talent development, engage in external relations, etc.,” said the group, which operates the Shiseido, Nars, and Cle de Peau brands, among others.
Uotani will be retiring as a director of Shiseido after the ordinary general meeting of shareholders scheduled for the end of March, according to a press release.
The move forms part of Shiseido’s five-year succession plan, which kicked off in 2019.
In November 2022, Fujiwara was appointed as president and COO, and nominated as a candidate for succeeding the position of CEO from Uotani. Since then, the executives have been working together to complete a successful leadership transition, with Shiseido confirming that Uotani will retire from his position on December 31, 2024.
Fujiwara joined first Shiseido in 1991. In addition to serving as president and COO, he has also served as the group’s China CEO during his tenure at the beauty firm.
The leadership transition comes as the Japanese beauty group Shiseido faces continued challenges in China. In its first quarter, Shiseido reported a 4 percent increase in net sales, reaching USD 1.6 billion. But the company experienced sluggish growth due to ongoing concerns surrounding its brand in the Chinese market, resulting in a decline in sales elsewhere.
Last month, Max Mara entered into a long-term fragrance partnership with Shiseido, which will see the Japanese beauty relaunch fragrances globally for the Italian luxury brand.