Fukoku Mutual Life to promote director Yoneyama to presidency+

TOKYO, May 26 -- (Kyodo) _ Fukoku Mutual Life Insurance Co. said Wednesday it will promote Director and Managing Executive Officer Yoshiteru Yoneyama, 59, to its presidency to succeed the 74-year-old Tomofumi Akiyama, who will become chairman without representative rights.

The top management reshuffle will be formally approved on July 2 at a board meeting following a meeting of representatives of policyholders, the company said.

The insurer is hoping to rejuvenate its top management with the promotion of Yoneyama, a Waseda University graduate, as 12 years have elapsed since Akiyama took the helm, Fukoku officials said.

Yoneyama built his professional career in the insurer's investment and strategy planning divisions.

He spearheaded the insurer's efforts to market policies over the counter at banks.