Outsourcing Inc. (2427:TYO), the world’s 10^th-largest staffing firm, reported on 28 February that its CEO, Haruhiko Doi, will retire effective March 29. Doi also serves as representative executive officer and chairman, and will also be stepping down from those roles as well. Doi’s new position will be honorary chairman.

The company also announced that Satoshi Miyajima will take over as representative executive officer. Miyajima is currently chief operating officer. He joined Outsourcing in May 2012 and has served in several leadership roles.

The company is currently in the process of a management buyout backed by Bain Capital Private Equity that will take the firm private, with a tender offer for common stock commencing on 27 February.

The management buyout takes place after a series of investigations that resulted in Outsourcing releasing amended financial results.

Shares in Outsourcing closed up 0.06% on Friday in Japan to JPY 1,749.50 (USD 11.67). They were 0.85% below their 52-week high set 13 December 2023.