Buchner takes over from Harald Boelstler, Senior Executive Officer and Corporate General Manager Global Procurement & Supply Office, who will become Vice President of Mercedes-Benz Passenger Car Purchasing heading the global procurement activities of the flagship brand of DaimlerChrysler.

Boelstler first came to MMC in January 2001 and was appointed to head the Global Procurement & Supply Office in June of the same year. In that position he led the first phase of transforming and globalizing MMC's purchasing activities into a much more efficient operation. As an initial result, MMC achieved material cost reductions in fiscal 2001 that far exceeded original targets. The dissolution of the Kashiwa-Kai suppliers organization in June 2002 has been a further step in increasing transparency and efficiency in Mitsubishi Motors' relations with its suppliers, which are based on the COSMOS concept emphasizing a fair and results-oriented cooperative partnership.

Buchner has been chosen as Boelstler's successor with respect to his specific professional experience. After joining Daimler-Benz AG in July 1986, Buchner spent time in various functions and at various purchasing departments of different production plants in Germany before moving to materials purchasing for passenger cars at Mercedes-Benz AG. He gained further valuable international experience during his most recent assignment as head of the office of the Executive Automotive Committee (EAC), the top strategic planning council of DaimlerChrysler.

Stefan Buchner