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Ghosn to hold chairman role at Mitsubishi

Posted on 19 October, 2016

Nissan chief executive Carlos Ghosn is expected to be named as the chairman of Mitsubishi, putting him in charge of three car brands. The Wall Street Journal reports that Mitsubishi’s current chairman, Osamu Masuko, who is also the marque’s chief executive and president, will relinquish the chairman’s title once Nissan acquires a controlling stake in the company. Sources familiar with the matter say that Nissan has asked Masuko to stay on as president. Nissan says it plans to complete its acquisition of a 34 per cent stake in Mitsubishi by the end of the year. The acquisition will make the Japanese carmaker part of a global alliance centered around Nissan and Renault SA, where Ghosn is also chief executive. Shares in Mitsubishi rose 7.9 per cent on Wednesday to just over NZ$7 as investors welcomed the news that Ghosn would take a central role in guiding Mitsubishi’s recovery. Analysts have expected Ghosn to take over the chairman position at Mitsubishi since Nissan announced its intention to take a controlling stake in the company. Earlier this year, Ghosn gave up his role as chairman at OAO AvtoVAZ of Russia, which is part of the Renault-Nissan alliance. Takaki Nakanishi, a Tokyo-based auto analyst, says stepping down from the position could allow Ghosn to devote more time to Mitsubishi.