Mazda appoints new CEO

Posted Wed Nov 19 2008 7:16 AM by James Martinez

Ford and Mazda are closely linked, sharing a number of platforms such as the one in the Mazda2 and upcoming Fiesta

Mazda has announced today that Takashi Yamanouchi will take over as its new president and CEO, replacing Hisakazu Imaki, who will stay on as chairman of the board. In other announcements, the former logistics and IT boss, Masaharu Yamaki, has been appointed as the new executive vice president.

The latest management shuffle comes just two days after Mazda, along with several strategic business partners, decided to acquire a parcel of its own shares from Ford in order to enable the struggling Detroit carmaker to raise some desperately needed capital. As a result, the ratio of Ford’s ownership of Mazda stock will be reduced from 33.45 to just over 13%, with the new agreement allowing the two companies to continue their strategic relationship that spans nearly 30 years.

Ford’s sale of the Mazda stock will be achieved through Mazda and a group of its strategic business partners each buying a portion of the shares. The transaction, to be made in off-hours trading at Monday’s closing price of ¥184 ($1.91) per share will see Ford net almost $540 million.

“The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction and we will continue to accelerate our product-led brand improvement and cost innovation initiatives,” said former CEO Hisakazu Imaki. “We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains.”

Ford and Mazda will remain closely linked for some time to come as both carmakers share a number of components and platforms. The Mazda2 and Mazda3, for example, are based on the same platforms as Ford’s new Fiesta and Focus (European), respectively. The two carmakers also plan to continue operations of jointly owned factories in Thailand, China, and the United States.

Reader Comments

Sat Oct 11 2008 10:38 PM
NoNameDenton says

That would be a stupid move, Mazda is profitable, sell Volvo if you have to
Sun Oct 12 2008 7:48 PM
Roy says

Denton has it exactly right. The problem is that Ford may need more cash than Volvo is worth. However, Mazda makes excellent small cars and lousy big ones. Ford does pretty much the opposite (in the US at least). It seems like a no-brainer that they've actually got a joint venture that works well. Perhaps Ford should go all in and buy all of Mazda...? It's profitable right? It's actually making money and there aren't a lot of other ways to do that right now.
Sun Oct 12 2008 8:25 PM
NoNameDenton says

Maybe Ford thinks they can pull it off since they are brining their European cars here
Mon Oct 13 2008 1:35 PM
www.mywheelsonwalls.com says

Roy you have hit the nail completely on the head. I've said it once and I'll say it again, Ford the family are about as short sighted as they come and dumb ideas abound like fat chicks at a buffet.

They're probabley sitting around there estates right now thinking "that's a great idea! why dont we buy Mazda whole?" Then again, past behavior is a very good indicator of future behavior.
Mon Oct 13 2008 1:36 PM
www.mywheelsonwalls.com says

oops! "their estates"
Thu Oct 16 2008 10:27 PM
NoNameDenton says

Be nice if Mazda can free itself from Ford, then it will not go down with the Blue Oval when it sinks
Tue Nov 18 2008 8:50 AM
mburleigh8 says

Dam, I hope Mazda is doing alot better then ford.
Tue Nov 18 2008 2:21 PM
NoNameDenton says

Mazda is profitable
Wed Nov 19 2008 1:09 PM
NoNameDenton says

And now they are free

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