Masamichi Kogai Is New CEO for Mazda image

Today, April 9th, Mazda named Masamichi Kogai its new CEO.

Masamichi Kogai, 58, will replace CEO Takashi Yamanouchi, 68, which will continue as chairman for Mazda. The changes will be effective June 25th, after a shareholders’ meeting and board meeting. During the financial year ended March, Mazda, which is the fifth largest automaker in Japan by sales volume, reported a net profit of 34.3 billion yen ($347.1 million), the company’s first profit in the past five years.

In March Mazda announced it plans to invest 25 million euro in a plant in Kulim, Kedah, Malaysia, which will manufacture energy-efficient vehicles. The vehicles manufactured by Mazda in Kulim will be fitted with the SkyActive Technology, which offers more power but at the same time low emissions and a better mileage, placing the vehicles into the energy-efficient category. The first model will reach the market by the end of this year and two more in 2014.

On another matter, the automaker relies on the CX-5 crossover’s recent success to increase sales in Europe. According to Jeff Guyton, Mazda’s Europe chief, the automaker plans to sell 200,000 vehicles in the mid-term.

Source: Reuters