Mitsubishi Heavy Names Exec Ito as New Pres.

Tokyo, Dec. 18 (Jiji Press)--Japan's Mitsubishi Heavy Industries Ltd. said Wednesday that it will promote Executive Vice President Eisaku Ito, 61, to president April 1, 2025.

The company expects to log record earnings in the current year ending next March. It will change its top management as it aims for further growth, led by gas turbine, defense and nuclear energy operations.

Incumbent President Seiji Izumisawa will step aside to become chairman without the right to represent the company. Current Chairman Shunichi Miyanaga will retire.

Mitsubishi Heavy will replace its president for the first time in six years. Ito will become representative director after a shareholders meeting June 27 next year, while Miyanaga will leave the board.

A native of Tottori Prefecture, western Japan, Ito joined the company in 1987. An engineer long involved in the development of gas turbines, he became executive vice president in April 2020.

[Copyright The Jiji Press, Ltd.]