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Friday, February 8, 2019 

Japanese shipbuilding and Industrial group Mitsubishi Heavy Industries has announced that Seiji Izumisawa (pictured) is to be appointed as President and CEO. He is currently Chief Strategy Officer (CSO).

He succeeds Shunichi Miyanaga, who will take on the role of Chairman of the Board. Mr Izumisawa played a key role in developing the Group's growth strategy and organisational and product portfolio transformation as part of the Medium Term Business Plan. Going forward, Mr Izumisawa, and the new generation of leadership under him, will execute on this plan and bring renewed vitality to the organisation, enabling further growth for the company.

As Chairman, Mr Miyanaga will continue to oversee various parts of MHI's existing business, as well as deepening strategic global alliances in close coordination with the new leadership team, enabling Izumisawa and his team to concentrate on new growth areas. Mr Izumisawa will continue in the role of CSO alongside his new responsibilities,

Mr Miyanaga said: "MHI Group is now at a turning point as it transforms into a new type of conglomerate which is focused on delivering significant added value through the scale and profitability of our core manufacturing business, our technological edge and competitiveness, all backed by a strong brand."

Mr Izumisawa added, "Under Mr Miyanaga's visionary stewardship MHI Group has transformed, and grown significantly both in revenues and global reach. Building on his legacy, MHI Group will use its collective strengths as a conglomerate to take on the challenges of the fourth industrial revolution and leverage the opportunities offered by ongoing major changes in the world to deliver growth. The company will venture into new areas and new technologies; incorporate AI into our existing offerings and develop next-generation solutions in new areas like cyber security. I am honoured to take on this new challenge working in partnership with our 80,000 employees around the globe."

At the same time subsidiary joint venture company Mitsubishi Hitachi Power Systems has announced various changes to its executive-level personnel, consequent to the retirement of President and CEO Kenji Ando, who will be succeeded by Ken Kawai.

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