Mazda will appoint 40-year company veteran Masahiro Moro as its new president and CEO, the Japanese carmaker said on Friday, as it ramps up spending to electrify its vehicles and considers investing in battery production.
Moro, 62, a director and senior managing executive officer, previously served as the head of Mazda's North America operations. He will officially take over pending the approval of the shareholders and board in June, the company said.
President and CEO Akira Marumoto, who took up his role in 2018, will step down from his posts at that time, Mazda added. Marumoto would continue to serve as an adviser, the Nikkei newspaper reported separately on Friday.
The leadership shake-up comes as the company, which is 5.1%-owned by automotive giant Toyota, laid out a ¥1.5-trillion (R207.3bn) spending plan in November to increase electrification of vehicles.
“Our business in the US is growing strongly,” Moro said during a news conference in Mazda's home base of Hiroshima, as he pledged to work out the carmaker's mid-term strategy in detail.
Moro said he hoped Mazda will expand its US business by upgrading dealer stores, which number about 360, and have each of those sell 1,000 vehicles a year initially. “If that can be done, next would be to work to 1,200 units,” he said.
Mazda also nominated Jeff Guyton, 56, senior managing executive officer and North America head, as CFO and assistant to the president pending the June approval of the shareholders and board.
The company has sought to strengthen its position in the US market with Toyota's help, making Mazda CX-50 crossovers at a plant it built in Huntsville, Alabama, with its much larger compatriot.
Mazda, which saw global annual sales of 1.25-million vehicles in the financial year to end-March 2022, faces growing competition in the US and China, as well as fallout from the global chips shortage.
The company forecast last month it would sell 6% fewer cars in the US and 48% fewer in China in this financial year, setbacks that would be partly offset by higher expected sales in Japan.
Mazda to appoint Masahiro Moro as next CEO
Image: Bryan Thomas/Getty Images
Mazda will appoint 40-year company veteran Masahiro Moro as its new president and CEO, the Japanese carmaker said on Friday, as it ramps up spending to electrify its vehicles and considers investing in battery production.
Moro, 62, a director and senior managing executive officer, previously served as the head of Mazda's North America operations. He will officially take over pending the approval of the shareholders and board in June, the company said.
President and CEO Akira Marumoto, who took up his role in 2018, will step down from his posts at that time, Mazda added. Marumoto would continue to serve as an adviser, the Nikkei newspaper reported separately on Friday.
The leadership shake-up comes as the company, which is 5.1%-owned by automotive giant Toyota, laid out a ¥1.5-trillion (R207.3bn) spending plan in November to increase electrification of vehicles.
“Our business in the US is growing strongly,” Moro said during a news conference in Mazda's home base of Hiroshima, as he pledged to work out the carmaker's mid-term strategy in detail.
Moro said he hoped Mazda will expand its US business by upgrading dealer stores, which number about 360, and have each of those sell 1,000 vehicles a year initially. “If that can be done, next would be to work to 1,200 units,” he said.
Mazda also nominated Jeff Guyton, 56, senior managing executive officer and North America head, as CFO and assistant to the president pending the June approval of the shareholders and board.
The company has sought to strengthen its position in the US market with Toyota's help, making Mazda CX-50 crossovers at a plant it built in Huntsville, Alabama, with its much larger compatriot.
Mazda, which saw global annual sales of 1.25-million vehicles in the financial year to end-March 2022, faces growing competition in the US and China, as well as fallout from the global chips shortage.
The company forecast last month it would sell 6% fewer cars in the US and 48% fewer in China in this financial year, setbacks that would be partly offset by higher expected sales in Japan.
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