Reshuffle Brings New Marubeni Executive to Westlake
LOS ANGELES -- February 26, 2013
Marubeni Corporation announces that effective April 1, Atsushi Suzuki will be
promoted to General Manager of Marubeni Automotive Department-I and will
relocate from Westlake’s Los Angeles headquarters to Japan for his new role.
Marubeni Corp. owns a 20 percent stake in Westlake Financial Services and two
seats on the Westlake board. Mr. Suzuki is currently a member of the board at
Westlake as well as President and CEO of Marubeni Auto Investment (USA)
Holding. Mr. Suzuki will remain on Westlake’s board of directors after moving
Mr. Suzuki’s new role at Marubeni Automotive Department-I will involve
overseeing automotive business in North and South American countries
(including the United States), China, and India.
Eiichiro Ito will assume Mr. Suzuki’s role in Los Angeles. Mr. Ito currently
serves as Executive Vice President and member of the board at Kencana
Internusa Artha (KITA) Finance in Indonesia which is 49% owned by Marubeni
Corp. Mr. Ito will take the second Marubeni seat on Westlake’s board from
Nobuyuki Mokkoh, who will continue to support business development of Westlake
from New York. Mr. Mokkoh is from Marubeni America Corp.
“Suzuki-san has helped take Westlake to a new level,” says Don Hankey,
Westlake’s Founder and Chairman. “Marubeni enabled Westlake to double our
balance sheet equity in 2011 and Suzuki quickly became involved with all our
departments. Suzuki-san was always able to motivate and encourage Westlake
management in a positive way. Bottom Line: Suzuki was able to put together a
perfect marriage between Marubeni and Westlake and will certainly be missed!
“We look forward to working with Ito-san. Ito-san’s international finance
experience should help Westlake continue our growth in revenue and profit,”
Mr. Hankey concludes.
“Suzuki-san brought a fresh perspective to Westlake. His contributions helped
strengthen not only our balance sheet, but also our corporate culture,” adds
Ian Anderson, Westlake President. “Suzuki-san helped develop Westlake’s growth
strategy, which will continue to push Westlake as a diversified financial
services leader, serving the underserved market. We are thankful Suzuki-san
will remain on Westlake’s board as we continue to strive towards our goals in
the coming years. At the same time, we welcome Mr. Ito to the team and cannot
wait to see him put his finance expertise to work at Westlake.”
“I have mixed feelings about leaving Los Angeles,” Mr. Suzuki says. “Westlake
feels like home now. People are open and there is a creative energy here. I
have enjoyed working with everyone and wish to thank all the executives and
employees who have made me feel so welcome.”
Mr. Suzuki will work closely with Mr. Ito during the transition process. Mr.
Ito joined Marubeni Corporation in 1988 and has been involved in international
business in various countries including Brazil and Indonesia. “His dedication
to the business is outstanding and he will bring his finance expertise to
Westlake. I am confident he will be a great fit,” Suzuki says.
“I am very impressed with Westlake’s business model,” says Mr. Ito. “Westlake
is much more systematic and on a much bigger scale than my current position in
Indonesia. I would like to express gratitude for the opportunity to join
Westlake and look forward to contributing to Westlake’s continued success.”
About Westlake Financial Services: Westlake Financial Services is an internet
based, privately held finance company that specializes in the acquisition and
servicing of sub-prime to prime automotive retail installment contracts.
Headquartered in Southern California, Westlake originates indirect retail
installment contracts through a network of over 15,000 new and used car
dealers throughout the United States. Westlake also offers portfolio
purchasing through their ALPS division (Advanced Lending & Portfolio
Services). Direct to consumer title loans and unsecured loans are done through
Westlake’s wholly owned subsidiary, Wilshire Consumer Credit. Westlake dealers
can also apply for flooring credit through Westlake Flooring Services. All
collections and servicing are performed in-house from its central facility
located in the Mid-Wilshire area of Los Angeles.
About Marubeni Corporation: Founded in 1858, Marubeni handles products in a
broad range of sectors such as food materials, food products, textiles,
materials, pulp and paper, chemicals, energy, metals and mineral resources,
and transportation machinery, including offshore trading. The Company's
activities also extend to power projects and infrastructure, plants and
industrial machinery, finance, logistics and information industry, and real
estate development and construction. Additionally, Marubeni conducts business
investment, development and management on a global level. Marubeni has 57
overseas branches and offices and 32 overseas corporate subsidiaries with 62
offices for a total of 119 offices in 69 countries/areas. As to automotive
activities, Marubeni is one of the biggest auto retailers in the world and
operates 15 dealerships in the U.S. including such brand as BMW, Land Rover,
Jaguar, Acura, Honda, Volvo, Mazda, and Volkswagen. Marubeni also operates
auto retail finance companies in Indonesia, Chile and the U.S. For more
information, visit www.marubeni.com.
Westlake Financial Services
Farrell Johnson, 888-389-3532
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