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Mitsui & Co. (Australia) Ltd. today announced the appointment of Mr. Masato Sugahara to the position of Chair and CEO of Mitsui Australia.

Mr. Sugahara will replace Mr. Hiroyuki Tsurugi, who has retired from Mitsui after a distinguished career at Mitsui, particularly driving investments in the global energy sector.

Mr. Sugahara joined Mitsui in 1987 after graduating from Tokyo University with a Bachelor of Laws. His most recent appointment was as Managing Officer & Chief Operating Officer Wellness Business Unit in Tokyo.

Commenting on his appointment, Mr Sugahara said he is encouraged to be taking on the role as the business adjusts to the disruptions brought on by the pandemic and global geopolitical uncertainty.

“Looking to the future, we face challenges, but we have a chance to build on the strong foundations in place and capitalise on many of the exciting prospects that present themselves,” Mr. Sugahara said.

“As the largest investment destination for Mitsui globally, Australia is a vital partner of our business. I look forward to working with my talented and hard-working colleagues to execute on our plan and continue to diversify, to serve our stakeholders, and deliver on our commitment to generate value by leveraging our networks and creating new business opportunities.”

The change is effective from 1 April.