Your #1 source for auto industry news and content

Mazda has appointed a 40-year company veteran as its next CEO

According to the company, the next CEO will officially take over in June and is subject to shareholder and board approval.

The Japanese manufacturer Mazda announced on March 17, that Masahiro Moro, a 40-year veteran of the firm, will become its new president and CEO as it increases expenditure to electrify its vehicles and contemplates investing in battery production.

Moro, 62, the company’s former chief of North America operations, is currently a director and senior managing executive officer. According to the company, he will officially take over in June, subject to shareholder and board approval.

Meanwhile, Akira Marumoto, the current President and CEO who assumed his position in 2018, would resign from both positions at that time, Mazda added, Moro would continue to act as a consultant.

The company, which is 5.1% owned by the world’s largest automaker Toyota, announced an $11.28 billion spending plan in November to enhance the electrification of automobiles.

Moro promised to develop Mazda’s mid-term plan in detail during a news conference in the automaker’s home base of Hiroshima. “Our company in the United States is now growing very fast,” Moro added.

Moro expressed his desire that Mazda would grow its business in the United States by modernizing its about 360 dealer outlets and having each of them start off by selling 1,000 vehicles annually. If it is successful, we’ll go on to 1,200 units, he said.

In the current financial year, the business predicted that it would sell 6% fewer cars in the United States and 48% fewer in China, setbacks that would be partially offset by higher anticipated sales in Japan.

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.

Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

Related Articles

Manufacturers In This Article

More Manufacturer News

Latest Articles

From our Publishing Partners