Outgoing Mitsubishi CEO Osamu Masuko
Mitsubishi Motors is set to undergo a major leadership change in the coming months. Earlier this month, the automaker announced that Osamu Masuko will step down as the chief executive of the company.
Masuko will officially resign from his position as Mitsubishi’s CEO on June 21. At that time, Takao Kato will take over as the company’s new CEO.
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Kato is no stranger to Mitsubishi’s operations. He currently serves as the president of the automaker’s Indonesian division. Indonesia is currently one of Mitsubishi’s most lucrative markets.
Masuko first assumed the role of CEO back in June of 2014. He also served as the president of the automaker between June 2016 and 2017. Prior to that, he had been the president between January of 2005 and June of 2014.
He first joined Mitsubishi back in April of 1972. Over time, he earned the positions of Senior Vice President and Division COO of Motor Vehicle Business.
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Masuko will retain his role as chairman of Mitsubishi’s board following is resignation from his role as CEO.
This leadership transition comes at a time when Mitsubishi is expect profits to fall. In the wake of slowing global car sales, Mitsubishi’s profits could fall by as much as 90 billion yen ($821 million).
It also closely fallows Nissan and Renault’s own leadership shakeup following the arrest of Carlos Ghosn, the former chairman of those automakers. Nissan holds a controlling stake in Mitsubishi’s overall operations. More about this transition and Kato’s new role in the company is expect to be announced over the next few weeks.
News Sources: Reuters, Bloomberg
