SOMPO PRESIDENT TO QUIT

Hiroshi Hirano, president of Japanese insurer Sompo, is set to resign in the wake of the recent misselling scandals associated with the company, reports Kyodo News . Director Masatoshi Sato is reported to be the most likely candidate to succeed him, Mr Hirano is expected to become chairman. The formal changeover is expected in June at the company’s general shareholders’ meeting, but an announcement is expected as early as this evening.