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We Hear: Nissan CEO Carlos Ghosn to be Named Chairman of Mitsubishi

Ghosn set to lead the struggling automaker

Ghosn set to lead the struggling automaker

There are reports that Carlos Ghosn is poised to take a leading position at Mitsubishi Motors. Ghosn, who current serves as CEO at both Nissan and Renault, is rumored to be named chairman of Mitsubishi, giving him power to make sweeping changes at the troubled automaker.

Osamu Masuko is Mitsubishi’s current chairman and president, though reports suggest he would retain his role of president.

A Mitsubishi spokesman declined to comment on what he said are “speculative articles.”

As previously reported, Nissan is finalizing a deal to take a controlling 34-percent stake in Mitsubishi Motors. Nissan announced the move in May when Mitsubishi admitted to falsifying fuel economy figures in a number of its vehicles for over two decades. Some of those vehicles were sold under Nissan nameplates.

As Mitsubishi works to rise from the crisis, it has formed a more extensive alliance with Nissan. “We will achieve long term value through deepening our strategic partnership including sharing resources such as development, as well as joint procurement,” Masuko said in May following news of the growing alliance.

“We are not going to change Mitsubishi,” Ghosn said in May. “Mitsubishi is going to change by itself. We are going to support Mitsubishi to do that.”

Since then, a number of top Mitsubishi executives have resigned. Nissan, meanwhile, sent one of its top former R&D chiefs to take a leading role at Mitsu.

Nissan’s deal to take a controlling stake in Mitsubishi is expected to close by the end of the year. Should it go through, Bloomberg reports the Renault-Nissan-Mitsubishi alliance would be the fourth largest in the auto industry.

Source: Bloomberg, Automotive News (Subscription required)