TOKYO -- Yasushi Ando, who was supposed to be a force for change at Mitsubishi Motors Corp., is leaving the automaker's board.
In Ando's place, the carmaker is setting up an external business revitalization monitoring committee, which will track the company's restructuring progress and make reports and recommendations to the Mitsubishi board.
But the committee will not be represented on the board. And at least one-half of its members will be from Mitsubishi Group.
The implication is that the new committee will be a monitoring body, not the forceful voice for change that Ando once was seen as representing at Mitsubishi.
Tomoo Tasaku will chair the committee. He is a partner at PwC Advisory Co., the Japan office of consultants PricewaterhouseCoopers.
Lawyer Kazuo Mura also will sit on the committee, as will one representative each from the carmaker's largest shareholders: Mitsubishi Heavy Industries Ltd., Mitsubishi Corp., and the Bank of Tokyo-Mitsubishi Ltd. A sixth member may be added.
Ando will leave the Mitsubishi board in late June, subject to approval by the company's shareholders.
Ando is the president of Phoenix Capital Co., a so-called "vulture fund" that invests in troubled companies and restructures them. He stepped into Mitsubishi Motors after DaimlerChrysler AG declined to invest more money in the troubled Japanese carmaker.
At one point Phoenix was Mitsubishi's largest shareholder. Ando chaired the carmaker's corporate restructuring committee.
Ando had been expected to push the Mitsubishi Group to accept painful restructuring steps at the carmaker, but gradually was pushed to the side.
You may e-mail James B. Treece at