Fuji Heavy Industries Ltd. has named marketing and sales specialist Yasuyuki Yoshinaga as the company’s new president and COO. However, this is subject to the approval of the shareholders, which are scheduled to have their annual meeting on June 24. Yoshinaga currently holds an executive vice president position at Fuji Heavy, which is the parent company of Subaru.
Yoshinaga, who studied economics at Seikei University in Japan, joined the company in 1977 and he spent a major part of his career in domestic sales and marketing.
Although he has never held a position in the United States, he acted as a strategic planner to help create the wholly owned subsidiary Subaru of America in 1990. He was also vital in brokering the cross-holdings alliance with Toyota Motor Corp.
in 2008, wherein Toyota increased its ownership in Fuji Heavy to 16.5 percent. Toyota also entered into agreement to supply Subaru with compact vehicles for the Japan market, to jointly produce a sports vehicle and to help with hybrid technology.
Yoshinaga will take charge of the company as it aims to get operations back to normal after the March 11 earthquake that devastated Japan and disrupted the automotive supply chain and the industry.
On the other hand, the current President and CEO, Ikuo Mori, will take the position of the currently vacant position of chairman and retain the title of chief executive officer. He will be overseeing the company’s entire operations including the production of cars, windmills and airplanes.