Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, Feb. 16 -- Tokyo-based refiner and marketer TonenGeneral Sekiyu KK reported that Philippe Ducom, currently its director, will succeed Kazuo Suzuki as president on Mar. 26. Ducom, who oversaw ExxonMobil Corp.’s chemical operations, will look to strengthen ties with the parent and bolster exports.
Suzuki assumed his position in March 2008 and promoted such streamlining efforts as selling an Okinawa refinery subsidiary to Petroleo Brasileiro SA, but demand continued to contract as the world economy worsened.
TonenGeneral Sekiyu last week said it swung into a group net loss of ¥21.7 billion for the 12 months to December 2009, compared with a ¥79.3 billion net profit a year earlier, due to declining margins.
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