MOL president becomes chairman as Koichi Muto becomes president

JAPANESE shipping giant Mitsui OSK Lines (MOL) has announced the promotions of its president Akimitsu Ashida, who will become the chairman of the board, and its senior managing executive officer Koichi Muto, who will soon become the company's new president.

The new appointments will be confirmed by the board following the annual general meeting of shareholders on June 22, said a company statement.

Mr Muto, 56, was born in Aichi Prefecture toward the middle of the southeastern side of the main Honshu Island. He graduated from nearby Nagoya University with a bachelor of economics after which he joined MOL in 1976.

In June, 2008, he was made a member of the MOL board having been appointed senior managing executive officer, having been made a junior managing executive officer as a board member in 2007 after serving as a junior managing executive officer without board membership in 2006.

In June, 2004, Mr Muto was made executive officer and in 2003 was appointed general manager of the corporate planning division, before which he served as general manager of bulk carrier in 2003.

In April 1999, MOL merged with Navix Line Ltd and in June 1994, and Mr Muto was made managing director of MOL's German operation.

(Source: Sea Trade Asia)