TOKYO - A team from DaimlerChrysler AG headed by Andreas Renschler, chief of its Smart cars unit, will arrive in Japan next weekend to help restructure Mitsubishi Motors Corp., a source at the Japanese automaker said on Monday.
A German publication, Manager Magazin, has reported that Renschler would take over from Rolf Eckrodt, the current chief executive of embattled Mitsubishi.
However, DaimlerChrysler and Mitsubishi sources say that Renschler will not necessarily take the helm of Japan's fourth largest automaker, in which DaimlerChrysler holds a 37 percent stake.
Renschler's team will be in Tokyo for six weeks to help Mitsubishi draw up a medium-term business plan by the end of April. It is expected to involve DaimlerChrysler and other big shareholders coming up with new capital.
"They will be looking at the whole operation," the source said. "No area will be spared."
Newspapers have reported that DaimlerChrysler may be forced to pump up to 70 billion yen ($654 million) into Mitsubishi Motors as part of a 200 billion-yen bail-out.
Hit by loan finance problems at its North American unit, Mitsubishi Motors said last week it expected an operating loss of 105 billion yen for the year to the end of March rather than the 45-billion-yen loss forecast three months ago.