OYAMA, Shizuoka Pref. -- The elderly leaders of most top Japanese firms may be hindering the success of their companies, and should allow the vision of a younger generation to lead business, said some executives at this year's annual gathering of the Japan Federation of Economic Organizations (Keidanren).
Matabee Maeda, chairman of major construction firm Maeda Corp. and the youngest seminar participant at 59, encouraged the powerful business lobby to recommend that executives aged 60 or over retire. He added that many of the world's influential business leaders are now in their 40s.
"I think the aging of top management is the biggest problem now (confronting Japanese companies)," said Maeda, who added he doesn't know if he'll return for next year's Keidanren seminar after he turns 60.