MATSUZAKA RESIGNS AS PRES. OF RENOWN
TOKYO — Mahiro Matsuzaka will resign as president of Renown Inc. on Feb. 1, 1995, but will stay on as vice president of the apparel firm.
Keji Toyoda, managing director, will become president. He has been in charge of the product-development division since 1992. The development follows Renown’s announcement of a restructuring plan earlier this month, under which it plans to cut personnel by 700 to 3,300 by February 1996. The firm, which has been struggling to get out of the red, has projected a net loss of $98.7 million (9.7 billion yen) at current exchange on sales of $2.1 billion (206 billion yen) for the year ending Jan. 31, 1995.