Mitsubishi Motors, which earlier this week announced yet another vehicle recall, said today that Rolf Eckrodt, now serving as executive vice president and COO of car operations, will become president and CEO on June 25.
Current chief Takashi Sonobe will become chairman.
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The move will mean that three of of Japan’s top five carmakers are controlled by foreigners for the first time ever.
DaimlerChrysler holds a 37 percent stake in Mitsubishi and now has its own man in charge. Eckrodt’s mission since his appointment has been to turn around the loss-making car and truck maker, whose brand image has suffered badly from a string of recalls and associated management cover-ups
Earlier this month, at the Geneva motor show, Eckrodt said Mitsubishi would achieve break-even for the 2001/2 fiscal year ending on March 31.
Nissan, owned 36.8 percent by Renault, which will soon boost its stake to 44 percent, is run by Brazilian Carlos Ghosn and Mazda, 34 percent owned by Ford, is run by American Mark Fields.
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By GlobalDataThat leaves just Toyota and Honda in Japanese hands.
In a statement, CEO Sonobe, who proposed the changes at today’s board meeting, said: “Rolf Eckrodt is the right person at the right time to lead Mitsubishi Motors successfully through the next years.”
Sonobe added that he would remain “fully committed to support our turnaround as chairman.”
