IHI Corp. plans to promote its aero-engines unit chief Tsugio Mitsuoka to president, replacing Tamotsu Saito, sources familiar with the matter said Monday. The appointment will be effective April 1.
Managing Executive Officer Mitsuoka, 61, has overseen an expansion of sales and profit at the aero-engines business. Saito, 63, will become chairman while continuing as chief executive officer, the sources said.
IHI envisions enhancing its management ahead of implementing a new mid-term business plan in fiscal 2016.
Mitsuoka, a Yokohama native and a graduate of the University of Tokyo's graduate school, joined Ishikawajima-Harima Heavy Industries Co., the predecessor to IHI, in 1980. He has been president of IHI's Aero-Engine & Space Operations unit since April 2013 and board director since June 2014.