The president of Pentax, one of the world's best-known camera brands, is set to resign over pressure from shareholders unhappy about the terms of a takeover offer from Hoya, the Japanese specialist glassmaker.

Pentax said yesterday that Fumio Urano was expected to resign following a board meeting today. It is understood that Mr Urano will step down to take responsibility for helping engineer a share swap in December with Hoya that shareholders later dismissed as too low.