Mazda Appoints New President

TOKYO AP reports that Japanese automaker Mazda Motor Corp. has appointed Lewis Booth, a senior adviser in charge of corporate strategy, as its new president.

Booth, who previously headed Ford Motor Co.'s Asia Pacific and Africa operations, will replace Mark Fields, who will take over as the U.S. automaker's vice president in charge of Premier Automotive Group on July 1.

Fields, 41, was named president in late 1999 after Ford bought a controlling 33.4 percent stake in Mazda, the smallest of Japan's five major automakers. Under Fields, Mazda embarked on a massive cost-cutting plan that is expected to have restored the automaker to profitability in the recently-ended fiscal year.

The Hiroshima-based carmaker expects to report a group net profit of 8.5 billion yen ($65 million) for year ended March 31, in contrast to a loss of 155 billion yen the previous year.

The Premier Automotive Group makes the Aston Martin, Jaguar, Land Rover and Volvo brands.