Seiko Corp. of America must wait a while longer for a new president.
Fumitaka Ueno, the 30-year Seiko Corp. veteran who was scheduled to assume the job this month has turned down the post for reasons involving his family, say Seiko sources.
A new SCA president is expected to be announced before the end of the summer. The former SCA president, Tsutomu Mitome, has returned to Tokyo to head the new Seiko Watch Corp. which will officially start on July 1. (Seiko Corp., which will become a holding company on June 28 at its stockholders’ meeting in Tokyo, has now spun off each of its major businesses as six independent subsidiaries.)