Japanese Automaker Announces Change in Leadership

Amy Bickers
March 29, 2002

Japan's Mitsubishi Motors said Wednesday it has appointed an executive brought in from its partner, DaimlerChrysler, as president and chief executive officer. Rolf Eckrodt will replace the current president, Takashi Sonobe, in June.

The move reflects DaimlerChrysler's desire to gain more control of Mitsubishi. It owns a 37 percent stake in the Japanese carmaker.

Mr. Eckrodt, who is German, will be the third westerner to head one of Japan's five major automakers. Nissan and Mazda also have foreign leadership.

Mr. Eckrodt told reporters in Tokyo that he hopes to make rapid progress with the company's restructuring program. "We want to be measured by results," he said. "There will be no compromise in that commitment."

This article is an excerpt from an Asian business report by the same name.