Mitsubishi Motors announced on Friday that CEO Osamu Masuko will step down from his position on June 21st, 2019.

Masuko will be replaced by Takao Kato, who is currently Mitsubishi’s president of operations in Indonesia.

Masuko, who is now 70, will remain Chairman of the Board, according to a statement released by Mitsubishi. Masuko and Kato are expected to appear together for an upcoming press conference, where they will discuss the changes coming to the company.

Mitsubishi is Japan’s sixth-leading auto manufacturer, and Nissan holds a controlling stake in the company. Mitsubishi reported that it expects profits to fall to just 90 billion Yen ($821 million) in the coming months as the company navigates through the difficult waters of the current global economy. The auto business is not as unchallenged as it once was, with global demand for cars on the decline. While demand for cars is slowing, the trade war, alongside other trade frictions, has left Mitsubishi in a precarious situation. The changing technological landscape in the auto industry offers another reason for a shakeup.

Mitsubishi is in an auto alliance with Nissan and Renault, which are currently still going through the fallout of Carlos Ghosn’s charges and several arrests. Ghosn, for his part, denies all the charges against him. Mitsubishi is also well aware of the need for a shift in strategy for the North American market. The shift will include a focus on profitability and long-term growth, even at the expense of rapid volume expansion.