Mitsubishi Motors North America, Inc. (MMNA) announced that Finbarr O'Neill will become the company's new chief executive officer and co-chairman, effective September 2.

"Mitsubishi Motors has built a solid base in North America by improving our brand, consolidating our business operations and expanding our product line. Fin is the perfect choice to move us to the next level in North America in this highly competitive market," said Steven Torok, MMNA's Co-Chairman and Mitsubishi Motors Corporation's (MMC) Executive Vice President of International Sales and Marketing.

O'Neill joins Mitsubishi Motors following 18 years at Hyundai Motor America, where he is widely credited with orchestrating a dramatic corporate turnaround following his promotion to president and CEO in 1998. Known as a disciplined and effective manager, O'Neill's relentless focus on product, brand and the dealer network pushed Hyundai into the top five ranking on the National Automobile Dealers Association's dealer attitude survey.

O'Neill, 51, currently serves as the chairman of the board of the Association of International Automobile Manufacturers.

"Finbarr O'Neill has an outstanding track record and has the full support of MMC and its alliance partners," said Rolf Eckrodt, MMC President and CEO. "He has proven his ability to stimulate profitable growth even in a down market, and to build brand awareness and customer satisfaction. Each of those skills will be critical to Mitsubishi Motors' next phase of North American growth."

O'Neill noted, "It's an honor and privilege to join the Mitsubishi Motors team. With a strong foundation already in place, this brand has extraordinary growth potential throughout the North American market. I look forward to working with a very talented group of employees and dealers."

O'Neill takes over as Mitsubishi Motors enters a new phase of growth in North America, with several new product introductions in the core S.U.V., sedan and sport specialty markets.

MMNA also announced the departure of Pierre Gagnon, who is resigning from the company to pursue other opportunities. Gagnon, who joined Mitsubishi Motors in 1997, had been president and CEO of MMNA in July 2002. Gagnon helped drive the consolidation of all Mitsubishi Motors' North American operations into a single organization. He was also instrumental in revitalizing the brand image in North America.

MMNA is responsible for all of the North American operations of MMC. As a single company consolidated on Jan. 1, 2003, MMNA and its subsidiaries manufacture, distribute, finance and market Mitsubishi brand coupes, convertibles, sedans and sport utility vehicles through a network of nearly 700 dealers in the United States, Canada, Mexico and the Caribbean. Mitsubishi Motors sold its first vehicle in the U.S. in 1981, and began building cars here in 1988 at its manufacturing facility in Normal, Ill. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672.