Mitsubishi confirms president will become chairman, CEO image

Last week on Friday we reported that sources close to the Japanese company reported that Osamu Masuko, the president who led the manufacturer since 2005, would step aside from its position and become Chairman. Now, the company has confirmed and also said Masuko will take the CEO role as well.

The current Chairman, Takashi Nishioka, was slated to resign and Masuko’s place to be taken by Managing Director Tetsuro Aikawa as of April 1st. Now, the Mitsubishi Motors Corp. announced that president Osamu Masuko would become chairman and also hold the newly created post of Chief Executive Officer since June.

The Japanese automaker, who in recent years had to be bailed out by fellow Mitsubishi companies seeks with these management changes to leave behind a frail capital structure and more importantly emerge on top a long decade of slowing sales.

Later on today Mitsubishi Motors is also set to announce its October-December third quarter earnings results, while in the management structure change announcement the Japanese automaker also said that Managing Director Tetsuro Aikawa, who is slotted to replace Masuko as president will also hold the newly created post of Chief Operating Officer.

Via Reuters