O’Neill – CEO @ Mitsubishi Steps Down During Review.
December 5, 2004
Mitsubishi Motors North America (MMNA) announced the resignation of Finbarr O’Neill as President and CEO. O’Neill has accepted a position as President and CEO of Reynolds & Reynolds, located in Dayton, Ohio. Mitsubishi Motors President of Manufacturing Rich Gilligan has been appointed to replace O’Neill as MMNA’s
President and CEO.
“My decision to leave was a very difficult and personal one,” said O’Neill. “I truly believe that Mitsubishi Motors is on the right track and will have a successful turnaround in the North American market. The company has the leadership, people, dealers and products to succeed. We have built a strong foundation for the turnaround of the brand. Mitsubishi is moving in a positive direction.”
O’Neill joined Mitsubishi Motors in September 2003. During his tenure, the company’s management focused on restructuring and streamlining business operations, eliminating risky retail financing programs, re-establishing stronger dealer relationships, drastically cutting fleet sales to improve residual values, and rebuilding the brand.
“We appreciate Fin’s involvement and commitment over the past 16 months,” said Osamu Masuko, head of Overseas Operations for Mitsubishi Motors Corporation in Japan. “With his help, we have laid the groundwork for a successful turnaround in North America. We have great confidence in Rich Gilligan’s ability to keep the turnaround moving forward.”
“I am extremely excited to be assuming the leadership of MMNA at this time,” said Gilligan. “With the sales launch of two exciting new vehicles — the Eclipse coupe and the Raider truck — in the coming year, Mitsubishi dealers will have the best portfolio of products in our company’s history.”
O’Neill was to lead the agency review for the account. His departure comes at a time when Ian Beavis – Sr. VP of Marketing and Diane Hong – Director of Advertising have yet to be replaced after their departure at the end of 2004.
Speculation surrounds the heavy-hitters on the dealer group having problems with the review.
