Mitsubishi Electric Corp. will promote Vice President Masaki Sakuyama to president, effective April 1, while President Kenichiro Yamanishi will assume the chairmanship, company sources said Thursday.
The appointments will be announced at a news conference later in the day, the sources said.
Sakuyama is experienced in large electric system equipment such as transmission and distribution networks and generators, areas where the firm sees major business opportunities, they said.
During his four years at the helm, Yamanishi, 62, focused on automobile-related devices and elevators, sectors that have promised to generate stable revenues.
Yamanishi is expected to almost accomplish his goal of expanding annual sales to ¥4 trillion in the current year to March.
Sakuyama, 61, joined the firm in 1977 after interrupting his academic career at the graduate school of the University of Tokyo. He is a Hyogo Prefecture native.