Tokyo, Apr 30: Mitsubishi Motors today said it had
brought in a group firm executive to head the debt-ridden
Japanese carmaker as it seeks to survive without extra cash
from its main shareholder DaimlerChrysler.
Mitsubishi heavy industries director Yoichiro Okazaki,
who had already been appointed chairman of Japan's
fourth-largest carmaker, has been nominated president and
chief executive officer of Mitsubishi Motors Corp., the
company said in a statement.
Okazaki, 61, will take up the CEO's position left vacant
by the resignation of Rolf Eckrodt, who had been seconded to
Mitsubishi from the US-German auto giant.
The resignation followed last week's surprise
announcement that DaimlerChrysler had decided against putting
more funds into the carmaker.
Mitsubishi shareholders approved the nomination at an
extraordinary meeting today, when the company had originally
scheduled to announce a drastic restructuring plan,
supposedly backed by DaimlerChrysler.
The Mitsubishi conglomerate now plans to thrash out an
alternative plan within a month.
Mitsubishi motors kicked off the meeting at its
headquarters in central Tokyo chaired by chief financial
officer Keiichiro Hashimoto, who has been overseeing business
since Eckrodt resigned.
Bureau Report
