Mitsubishi Motors Philippines Corporation bids farewell to its outgoing President and CEO Mr. Teruhiko Shibata who will be reassigned to Japan for more important duties at MMC Japan's Nagoya Plant. Under Shibata's leadership, MMPC ended up 2nd overall in total vehicle sales for 2003 despite a roller-coaster year for the industry.

MMC Japan has assigned Mr. Kengo Takase who has had a successful stint at the Nagoya Plant's operations division to head MMPC as its new President and CEO. His experience in the field of manufacturing is seen to strengthen MMPC's plan to export vehicles in the coming years.

The turnover ceremony was held at the ballroom of the Makati Shangri-La Hotel and was attended by industry members and government dignitaries from the Office of the President, Board of Investments, and the Department of Trade and Industry.