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Sumitomo Dainippon CEO transitions to chairman role

Osaka, Japan-based Sumitomo Dainippon Pharma Co. Ltd. said Masayo Tada, its president and CEO, will transition to the company's chairman role.

Hiroshi Nomura, the drugmaker's executive vice president, will take over the president and CEO roles. Both appointments are effective April 1.

Sumitomo Dainippon develops drugs for treating a range of diseases, including hypertension, Parkinson's disease and hepatocellular carcinoma, among others.

The company said the changes were meant to help realize its future growth as its mid-term business plan comes to an end. The mid-term business plan was largely focused on investing in research and development activities.