Murata chairman to exit, leaving it without founding family director

KYOTO, Japan -- The chairman of Murata Manufacturing will step down and become an adviser, the Japanese electronic parts maker said Friday, as the company alters its management structure to adapt to an increasingly complex global economy.

Tsuneo Murata, who became chairman in 2017, no longer will be a representative director. The planned change marks the first time that a member of the company's founding family will not serve as an acting representative director.