Mitsubishi Motors, to get new Managing Director soon

Mitsubishi Motor Company of Tokyo is set to appoint new Managing Director, Tetsuro Aikawa by replacing Osamu Masuko, who is the current president. This has been a hot news and was declared on Friday. However, the new structure is set to take its due course from 1st April 2014. Chairman, Takashi Nishioka, is also set to resign. These changes in management have raised more than two billion dollars, which can be used to buy the preferred shares, which are issued to the sister companies. The amount has funded the bailout of the automaker, after the capital alliance failed with Daimler Chrysler.

Photo 1: CADILLAC

The company has, however, made no decisions to change at the top. Reshuffling of management was initially reported in the Business daily on Friday. Aikawa’s main job is to put the business in the path of growth by focusing upon operational links. This also results in saving enormous costs and also has the lack of scale. The company carries the credit of making Pajero and Outlander SUV’S last year, which is a wide ranging alliance of the upcoming project with Nissan Motor Company and Renault SA.

Aikawa, who is a thirty five year old veteran, of Mitsubishi Motors, comes from an engineering background and has a good expertise in the fields of product development and the manufacturing.

Photo 2: Mitsubishi Motors, to get new Managing Director soon

However, his father is working as a former president and also works as a chairman and is also the top shareholder of Mitsubishi Heavy Industries Ltd. Masuko has also a wide reputation among all the existing and new investors since the year 2005 from the trading house. This house has been affiliated with the company, and both the duo (father and son) have the Herculean task of reviving this car maker. Aikawa has earned the moniker “Prince”, within the conglomerate of the business.