There is a Chinese proverb that says “May you live in interesting times.” That clearly appears to be the case at Asiabest Group, which named their new president on March 26, appointing Takashi Oya to head the group, according to a company press release.
Takashi replaces Kenji Sugiyama, who resigned from the position on February 22 as part of a realignment of the corporate structure at the group, yet would return briefly to head the group on March 22 before being replaced on Tuesday.
Takashi comes over from his position as president of the Tiger Resort, Leisure and Entertainment. He has held a number of senior positions in his career, including being the director of Deutsche Securities from 1999 all the way up through 2007. He also served in a senior position at the Fields Research Institute from 2007 up through 2018.
In February 2018, Kazuo Okada, who founded Okada Holdings, found himself ousted from his position despite being the person who founded and led the company to great heights. At the same time, it was reported that he was in a battle with his wife and two children over the management of the company.
Tiger Resort Asia is a subsidiary of Okada Holdings and is the company that runs Asiabest Holdings. Tiger Resort acquired 66.6% of Asiabest Group (ABG) just days before Okada was removed.
At the time of the acquisition, the group opted to replace 11 new board members. To add insult to injury, Okada’s estranged wife, Takako Okada, became one of those members that were added to the board.
Okada also found himself in trouble with the law when he was placed under arrest in the Philippines over an alleged scheme to defraud millions of dollars. The arrest prompted a number of lawsuits, but the former executive has maintained his innocence, denying all charges.
Besides the addition of Ms. Okada to the board, additional members include TRLEI President Kenji Sugiyama, as well as three other current members on the Board of Directors at TRLEI. Universal Entertainment Corporation COO Hajime Tokuda was also added to the board.
With so much drama surrounding Okada, ABG is clearly trying to establish some level of normalcy, and the addition of Oya looks to be a positive step forward. It’s a very distinguished Board of Directors heading the organization now, hoping that the group can now focus on improving operations and support.