Mitsubishi Motors' Next CEO Stresses Ties with Nissan, Renault

Economy

Tokyo, May 20 (Jiji Press)--Takao Kato, the next chief executive officer of Mitsubishi Motors Corp. <7211>, on Monday stressed the Japanese automaker's stance of attaching importance to its three-way alliance with Nissan Motor Co. <7201> and French auto giant Renault SA.

"We'll enhance our competitiveness by utilizing the alliance and focusing on areas where we have strength," he told a press conference in Tokyo.

Kato, now president of an Indonesian subsidiary of Mitsubishi Motors, will formally assume the new post after the company's general shareholders' meeting on June 21.

Osamu Masuko, current CEO and chairman of the automaker, who was also present at the press conference, said that he favors Kato as the next CEO because he was involved in setting up production joint ventures in Russia and Indonesia.

Kato "has experience as a leader of an automaker," said Masuko, who is set to stay as chairman.

[Copyright The Jiji Press, Ltd.]

Jiji Press