Since that leveraged buyout was completed last year, the company has undertaken a restructuring program to cope with the billions of dollars in debt it incurred in the deal.
By dismissing Mr. Asahara as its leader and undertaking a restructuring, the group appears to hoping to stave off a move by the Government to restrict its activities and finances.
The company said on Thursday that due to challenging conditions in key markets, was undertaking a restructuring review, particularly in its process technology division, which sells catalysts and technologies to the oil and petrochemical sector.
"We undertook a restructuring of the business, removing approximately 50 roles locally in Malaysia last week, which will be replaced by 200 new roles over the next 9 months.
In addition, he undertook a restructuring of the food giant, cutting thousands of jobs and shutting more than a dozen plants in an attempt to save some $1.2 billion.
Chief executive Robert Eckert Robert Eckert, formerly at the helm of Kraft Foods, was appointed in mid-May 2000 and soon undertook a restructuring program.
Lucky for Cote, the Morris Township, N.J.-based diversified manufacturer has undertaken a restructuring program that should allow him to get straight to work on improving performance.
As a result of a leadership review during 2014, Sheffield Hallam University (SHU) undertook a restructuring of Learning and Information Services (library) and Student Support Services.
Huge over-capacity and large losses forced the government to undertake a massive restructuring of state-owned firms.
