Isuzu Motors Ltd. said Thursday that Executive Vice President Susumu Hosoi will replace President Yoshinori Ida in June.
The appointment of Hosoi, 57, will take effect after a general shareholders’ meeting in late June, the major truck maker said, adding Ida, 63, is expected to become chairman with the rights to represent the company.
Isuzu is expected to book a record group operating profit in the business year ending Saturday, completing a recovery from its financial difficulties in 2001.
With its turnaround efforts on track, Isuzu has decided the time is right to reshuffle top management, the company said.
Hosoi played a leading role in the formation of Isuzu’s capital and business alliance with Toyota Motor Corp., after severing a capital tieup with General Motors Corp. last year, company officials said.
Hosoi entered Isuzu in 1973 after graduating from Waseda University and became executive vice president last April. He has spent most of his career in management planning and overseas business.
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