New CEO Rich Gilligan Makes Bold Move in Hiring Outside Management Team

AlixPartners, founded in 1981 by Jay Alix, has a long list of wayward corporations on its roster including Kmart Corp.

MMC has forecast a $2.3 billion USD loss for its 2004/2005 fiscal year, ending March 31, 2005. (Photo: Trevor Hofmann, Canadian Auto Press)

and National Car Rental in the early '90s, and more recently battery manufacturer Exide Technologies.

AlixPartners and Mitsubishi made no mention of just how many advisers would be used at MMNA, with AlixPartners managing director Debra Kuptz only saying, "We are not taking an officer role (at Mitsubishi)."

MMC has forecast a $2.3 billion USD loss for its 2004/2005 fiscal year, ending March 31, 2005, but on the positive it expects a $2.9 billion USD investment by partial parent company Mitsubishi Group.