Nis­san boss to head Mit­subishi

The Myanmar Times - - International Business -

NIS­SAN boss Car­los Ghosn is set to be­come chair of Mit­subishi Mo­tors, sev­eral months af­ter throw­ing a life­line to the scan­dal-hit com­pany.

The ap­point­ment will make Mr Ghosn the head of three ma­jor au­tomak­ers, in­clud­ing France’s Re­nault which holds a ma­jor stake in Nis­san.

Mit­subishi’s chair Osamu Ma­suko will stay on as pres­i­dent, the com­pany said, adding that the changes are to take ef­fect in De­cem­ber.

Nis­san came to Mit­subishi’s aid in May when it an­nounced plans to buy a one-third stake in the cri­sis-hit au­tomaker for 237.3 bil­lion yen (US$2.3 bil­lion), as the smaller ri­val wres­tled with a mileage-cheat­ing scan­dal.

Mr Ghosn – cred­ited with turn­ing around a nearly bank­rupt Nis­san – said he would stay out of day-to-day man­age­ment at Mit­subishi.

How­ever, he ap­pointed Hiroto Saikawa, Nis­san’s chief com­pet­i­tive of­fi­cer, as his co-CEO at the com­pany so he could fo­cus on Mit­subishi’s turn­around. De­spite his rep­u­ta­tion as a tough man­ager, Mr Ghosn would likely be a “fig­ure­head” at Mit­subishi with the tough re­forms left to Mr Ma­suko, said Hans Greimel, Asia ed­i­tor for the Au­to­mo­tive News. – AFP

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