MITSUBISHI Motors MD Lance Bradley is to step down at the end of the current financial year, which ends on March 31 2018.

He made the announcement to colleagues and staff during a staff meeting this morning.

The company said that after 17 years at Mitsubishi Motors in the UK, initially as sales & marketing director and as managing director for the past nine years, Mr Bradley has taken the decision to step down “having placed the company on an extremely solid footing, ideally placed to take on the challenges of the evolving automotive landscape.”

Under Mr Bradley’s stewardship, Mitsubishi Motors has pioneered electric and plug-in hybrid sales in the UK while at the same time posting record profits through strong sales and streamlined business practises.

Over the next six months he will continue to oversee the company’s transition to working within the new Renault-Nissan-Mitsubishi Alliance, as well as the launch of several significant new initiatives, partnership announcements and the rollout of important new vehicles for the brand.

Mr Bradley said: “Following 17 fantastic years here at Mitsubishi Motors in the UK, the last nine of which were as managing director, I have decided that the time is right for me to seek a new challenge. I have happily agreed to help find my successor and to stay around for a further 12 months as vice chairman after the appointment of the new MD to ensure a smooth handover.

“I want to thank everyone in Mitsubishi Motors for their support in my time here. It has been an amazing time – one I will never forget – and I wish my successor, the company and everyone who works here continued success in the years to come.”

Recruitment for Mr Bradley’s replacement will begin immediately with a view to appointing a new managing director in early 2018.