Nissan CEO to head Mitsubishi Motors

Carlos Ghosn will become chairman of the company

October 26, 2016
The Canadian Press
The Canadian Press

TOKYO—Carlos Ghosn, CEO of Japan’s Nissan Motor, said he will become chairman of Mitsubishi Motors, presiding over efforts to turn the automaker around.

The Brazilian-born Frenchman, who already heads Nissan and Renault, said Mitsubishi’s current chairman and CEO, Osamu Masuko, would stay on as CEO.

“I speak for all of us when I say we will give our absolute commitment to support Mitsubishi Motors,” Ghosn said.

He said Nissan would provide skills and expertise needed to help restore trust, enhance regulatory compliance and improve governance at Mitsubishi.

“We are sending a clear message we believe in the underlying strength of Japanese car making,” Ghosn said.

Nissan and Mitsubishi say they plan to maintain separate identities, brands and dealerships after the deal. But Nissan will nominate four new board members.