Nippon Sheet's American boss quits amid 'differences'
Japanese glass maker Nippon Sheet Glass (NSG) has said that its American chief executive, Craig Naylor, has resigned over "disagreements with the board".
NSG said Mr Naylor was leaving over differences on the company's strategy.
Mr Naylor is the latest foreign chief executive to part ways with a Japanese firm.
His resignation comes just months after a spat between the non-Japanese chief executive and the management of Olympus over accounting irregularities.
However, NSG said that Mr Naylor's resignation had nothing to do with corporate governance issues.
"Our firm has nothing whatsoever like the situation that happened at Olympus," said Katsuji Fujimoto, chairman of NSG.
"This is regrettable but we thank Craig for his efforts over the past two years and wish him well in the future."'Surprise to investors'
End Quote Katsuhiko Ishibashi Deutsche Bank Equity Research
The suddenness of this will be a surprise to investors and should lead to a bit of selling of shares”
Mr Naylor confirmed that he had differed with the company's strategy and said he resigned because "the board should have a CEO that is committed to the direction it sets".
The chief executive's resignation is the latest setback for the firm.
The company has been facing falling demand for its products from the eurozone, one of its biggest markets, amid the region's continuing debt crisis.
Earlier this year, NSG said it expected to make a loss of 3bn yen ($36.8m; £23m) for the financial year ending 31 March, down from its earlier projection of a 14bn yen profit.
The firm has also said that it will cut almost 3,500 jobs worldwide in a bid to restructure its operations.
Analysts said Mr Naylor's resignation was likely to lead to a dip in investor confidence.
"The suddenness of this will be a surprise to investors and should lead to a bit of selling of shares," said Katsuhiko Ishibashi of Deutsche Bank Equity Research.
NSG shares fell more than 6% on the Tokyo Stock Exchange on Thursday to 109 yen.