Mazda promotes Yamanouchi president

Japan’s Mazda Motor Corp. said it would promote Vice President Takashi Yamanouchi to president. Incumbent President and Chairman Hisakazu Imaki, will continue serving as chairman. The management shakeup comes after the announcement that its top shareholder, Ford Motor Co. of the United States, will reduce its stake from 33.4% to 13% and that two Mazda board members sent from Ford will resign. Yamanouchi has been Mazda’s vice president since April 2007. (November 18, 2008)