Mazda Motor Corp., which relies on exports more than any other Japanese carmaker, said Thursday that Takashi Yamanouchi will step down as president next month to make way for younger managers now that it has returned to profitability.

Yamanouchi, 68, will be replaced by senior managing executive officer Masamichi Kogai, 58, as part of broader management moves that will be take effect after the June 25 annual shareholders' meeting, the Hiroshima-based company said.

Mazda, which a year ago was reeling from its biggest loss in 11 years, said it delayed last year's executive changes because of its "financial situation."