Mitsubishi Phils. has new president

MANILA, Philippines - Mitsubishi Motors Philippines Corp. (MMPC) is announcing the appointment of its new president and CEO, Hikosaburo Shibata effective April 1, 2011.

Mr. Shibata will take over Masahiko Ueki who started his three-year assignment in the country in February 2008. As Ueki concludes his short but productive term in the Philippines, he will be leaving marks of his legacy with his immense contributions and accomplishments to MMPC. It was during his term when MMPC was able to further strengthen its number two industry position.

Like in 2009, MMPC was able to achieve a double digit growth of 33 percent and improve its market year to 17.6 percent in spite of the global financial crisis which affected the automotive industry. Then in 2010, MMPC closed the year with a 39 percent sales growth and 19.2 percent market share.

Ueki is now promoted as the Executive Officer and Corporate GM of Asia and ASEAN Office of Mitsubishi Motors Corporation.

Mr. Shibata who is currently MMC's Vice Corporate GM joined MMC in 1978 after finishing Law form Seikei University that same year. He was first assigned in the Production Control Department.

He was also assigned as the GM of Australia/New Zealand from July 2004 up to March 2005. Mr. Shibata's more than 30 years of vast experience in various foreign markets handled by MMC makes him more excited to lead Mitsubishi Motors' operation in the Philippines.

MMPC will formally introduce Mr. Shibata in a turn-over ceremony on April 4.

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