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MITSUBISHI EXEC QUITS

Mitsubishi Motors Corp., selling half as many cars in the U.S. as in 2002, said its U.S. marketing chief resigned after one year on the job for reasons that weren't disclosed.

Ian Beavis, 51, quit Nov. 24 "for personal reasons," spokeswoman Dotty Diemer said. Mitsubishi Motors North America, based in Cypress, Calif., has begun a search for Beavis' replacement.

The maker of Galant sedans is trying to reverse a sales plunge in the U.S., the world's largest auto market, that was triggered in 2002 by customer loan defaults at its finance arm.

--Bloomberg News

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