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Mitsubishi Electric names new CEO

Mitsubishi Electric Corp. named Takeshi Sugiyama the company's new president and CEO, replacing Masaki Sakuyama, who will assume the position of chairman.

Sugiyama joined the electronics manufacturer in 1979 as an engineer in the company's Himeji Works and has served the company in various capacities since then. Before his elevation to the CEO post, he was the representative executive officer, executive vice president and group president of the Living Environment and Digital Media Equipment Group.

Sayukama was appointed president and CEO in 2014. He previously served as the executive vice president and group president of the Semiconductor and Device Group.