Mitsubishi Motors Corp. named the Japanese members of its new, smaller board of directors. It did not identify the three executives from DaimlerChrysler AG who will join its board, in line with the German company's purchase of a controlling 34 percent stake in Mitsubishi.
Mitsubishi's board is shrinking from 34 to 10, with five from Mitsubishi, three from DaimlerChrysler and two part-time directors from the Mitsubishi Group.
From Mitsubishi Motors, the lineup includes President Katsuhiko Kawasoe, vice presidents Fumikazu Yokogawa and Yuzo Murata, and managing directors Takashi Sonobe and Yuhiko Kiyota.
Yokogawa will become Mitsubishi's chief financial officer. Murata will be president of Mitsubishi Fuso Truck & Bus Co., which is to be spun off from the carmaker and owned 19.9 percent by AB Volvo. Sonobe heads Mitsubishi's key American operations. Kiyota is the carmaker's new marketing chief.
From the Mitsubishi Group, Takaki Nishioka, president of Mitsubishi Heavy Industries Ltd., replaces Mitsubishi Heavy Industries Chairman Kentaro Aikawa, 72, on the carmaker's board. Mikio Sasaki, president of trading house Mitsubishi Corp., replaces his chairman, Minoru Makihara, 70, on the Mitsubishi Motors board.
Katsuhisa Sato, 64, executive vice president for international car operations, and Satoru Toyama, 62, executive vice president for quality and technical affairs, will retire.
All of the changes are effective with the June 27 shareholders meeting.
Although DaimlerChrysler will hold a minority of board seats, its stake in Mitsubishi gives it veto power over board-level decisions under Japanese law.