Japanese lighting equipment maker Ushio Inc. founder Jiro Ushio, 89, resigned as chairman effective Tuesday after leading the company's management for over 50 years, according to the company.

Ushio, who has strong ties with the Japanese government through his work as the head of a business body and a member of an economic policy panel, relinquished the right to represent the company but remains a member of the board and will become a corporate adviser to the firm.

The Tokyo-based company said Ushio proposed to resign, but will continue to support the company from his new position given that "a reliable system has been organized" under President and CEO Koji Naito, who assumed the post in 2019.

Ushio founded the company and became its president in March 1964 and chairman in April 1979. He served as chairman of the Japan Association of Corporate Executives for four years from April 1995 and was a member of the government's Council on Economic and Fiscal Policy from 2001 to 2006.

==Kyodo

© Kyodo News International, Inc., source Newswire