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MMC head to quit after DaimlerChrysler equity purchase

TOKYO, Japan - Mitsubishi Motors Corp. (MMC) announces Sept. 8 the resignation of its president over a cover-up scandal and a revision to its alliance pact with DaimlerChrysler AG. The fourth-largest Japanese automaker said Vice President Takashi Sonobe (L) will replace Katsuhiko Kawasoe as president Nov. 1, after DaimlerChrysler buys a 34% stake in MMC in October in a deal that newly allows the German-U.S. firm to raise its stake three years later without approval from the MMC board. Photo was taken at a news conference held at MMC's head office in Tokyo's Minato Ward on the afetrnoon of Sept. 8.