Tadashi Yanai, the chairman, president, and CEO of Uniqlo parent Fast Retailing, has a problem with his succession plan.
He doesn't have one.
That's not because he's not trying. He simply doesn't think that anyone else is worthy of the position right now. They're not ready.
“I think I may not be able to retire,” he told reporters at a meet-and-greet, according to Women's Wear Daily.
“That may sound like a very good thing, but actually for me it’s terrible. The biggest part of my job now is to quickly develop successors, and around the world I am working to develop new business leaders in the company.
But unfortunately at the moment there is no one who meets my expectations, so together they all have to learn more.”
The 63-year-old Yanai previously announced that was planning to retire in 2014 at the age of 65, but it seems like this may not be able to happen.
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