is getting new management, as the current Representative Director President and CEO is stepping down and handing the reins to in June.
Marumoto has held the position since 2018. His successor is credited with pushing sales in North America, where the carmaker makes 36 per cent of its business. Moro has been with Mazda for 40 years and led Mazda in Europe from 2004 to 2008. In 2016, he was named CEO of Mazda Motor of America.
The change at the top comes as Mazda is looking to electrify its portfolio. The carmaker announced an $11 billion investment in electrification in November and wants 25 to 40 per cent of its global sales to be electric by 2030. The investment could also go toward EV production in the US from 2026 or 2027, making Mazda EVs eligible for tax credits under the US Inflation Reduction Act. However, concrete plans have yet to be announced.
However, Mazda continues to take a leisurely approach to electrification and plans to introduce a new hybrid system first. Pure electric cars are not to be offered in greater numbers until the second half of the decade. The first new EV models could come onto the market somewhat earlier, either in 2026 or 2027 – but the big offensive is only to come after that.
“We want to bring fresh eyes to the company. One is to successfully roll out large products, which will be a major growth driver for putting the company on a growth trajectory,” said Masahiro Moro, adding: “The second is to implement company-wide cost reduction activities, including all supply chains and value chains, in order to further improve management efficiency going forward, so as to make our overall business more robust.”
Mazda is not the only Japanese carmaker to change CEOs on route to electrification. Toyota and Subaru announced in January and March, respectively, that they are getting new top managers. For Toyota, Koji Sato, previously president of the Lexus brand and the motorsport subsidiary Gazoo Racing, will become Toyota’s new president and CEO on 1 April 2023, replacing Akio Toyoda in this role. And Atsushi Osaki will replace current Subaru CEO Tomomi Nakamura in June.