5/17, 3:12 PM (Source: TeleTrader)
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Mitsubishi Motors CEO Masuko to step down

Mitsubishi Motors Corp announced on Friday that its CEO Osamu Masuko will step down from the role on June 21.

The Japanese carmaker stressed that the company's president of operations in Indonesia, Takao Kato, will replace Masuko. Meanwhile, the outgoing CEO will keep the position of the chairman of the board at Mitsubishi.

Mitsubishi listed the carmaker's "transition to a company with three committees and decision on the new administration of Executives" as the reason for the changes in personnel.

Breaking the News / NP