MHI Appoints CTO Eisaku Ito as Next President & CEO

19 Dec 2024 CW Team

Mitsubishi Heavy Industries, Ltd. (MHI) announced executive-level personnel changes effective March 31 and April 1, 2025, and made nominations for Members of the Board to be proposed at the 100th Ordinary General Meeting of Shareholders scheduled on June 27, 2025. MHI also announced the appointment of current Chief Technology Officer (CTO), Eisaku Ito, as President & Chief Executive Officer (CEO), effective April 1, 2025. He succeeds Seiji Izumisawa, who will take on the role of Chairman of the Board after six years as MHI's top executive. These appointments were approved at a meeting of MHI's Board of Directors held in Tokyo. Ito will assume the role of President & CEO after serving as Executive Vice President, CTO, and Head of the Technology Strategy Office since April 2020, his latest position in a career that spans over 30 years at MHI. In a previous role, Mr. Ito promoted the development of a wide range of our company's technologies and businesses, the improvement of business processes, and the marketing of new products and services. He also played an important role in responding to the rapid evolution of digitalization and AI technologies by establishing the Digital Innovation Headquarters. Going forward under Mr. Ito's leadership, we will work to achieve further growth as one of Japan's leading manufacturing and technology companies.

During his tenure as President & CEO, Izumisawa led the restructuring of the thermal power business, the discontinuation of SpaceJet development, and the divestment of the machine tools business. In FY2023, the final year of the 2021 Medium-Term Business Plan, order intake, revenue, and profit reached record highs, making a significant contribution to improving the company's margins. In addition, Mr. Izumisawa has been working to enhance our future growth areas, including the businesses related to the Energy Transition.

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