From Agence France-Presse

Japanese tiremaker Bridgestone on Thursday named as its new president Shoshi Arakawa, former head of the group's European operations, as it seeks to secure the top global ranking.

Arakawa, executive vice president, will succeed President Shigeo Watanabe, who will become an advisor, said Bridgestone, which describes itself as the world's largest manufacturer of tires and other rubber products.

The reshuffle at Bridgestone, arch-rival of France's Michelin, will be effective on March 30.

"I aim to secure the status of the world's largest tiremaker both in name and reality," Arakawa, 61, told a news conference with Watanabe.

Arakawa said he planned to strengthen the company's overseas operations during his term.

"In terms of personnel and funding systems, our company has yet to achieve globalization," Arakawa said. "I would like to build a global business structure in which we are acknowledged as a business partner by our markets and clients," he said, adding that he would concentrate in particular on the North America business.

On the motorsports front, Arakawa renewed the company's commitment to Formula One as the sole tire supplier after Michelin withdraws from the prestigious championship at the end of this season.

Last month, Michelin said it would quit Formula One after this year's series following a decision by the International Automobile Federation (FIA) to opt for a single tire manufacturer to supply teams from 2008.

Copyright 2006 Agence France-Presse. All Rights Reserved.

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