Itochu Corp. plans to promote its managing director, Eizo Kobayashi, to the position of president April 1, sources said Wednesday.
He will succeed Uichiro Niwa, the sources said.
Kobayashi, 55, has served as managing director since June and is viewed as Niwa's right-hand man. A graduate of Osaka University's engineering science faculty, Kobayashi has served as head of the trading house's information and telecommunications division. He played a key role in having information-related affiliate Itochu Techno-Science Corp. go public.
Niwa, who has served in his current position for six years, will become chairman with representative rights.
Chairman Minoru Murofushi will step down and become an adviser.