Mitsubishi Motors President Osamu Masuko will become chairman after stepping aside, Reuters reports citing sources close to the matter.
The automaker will appoint Managing Director Tetsuro Aikawa to replace Masuko as president.
Masuko has led the automaker for the past nine years.
The new structure will take effect on April 1, the sources said, declining to be identified because the decision is not public.
Chairman Takashi Nishioka will resign, the sources said.
The management changes would come as Japan’s second-tier automaker seeks to leave behind an arduous decade of slumping sales and a tenuous capital structure that had threatened its standing in the increasingly competitive global auto industry, Reuters said.
Source: Reuters
