Mitsubishi Motors board votes to dismiss Ghosn as chairman after arrest

27, Nov. 2018

TOKYO, Kyodo - Mitsubishi Motors Corp. said Monday its board of directors dismissed Carlos Ghosn as chairman at an extraordinary meeting following his arrest for alleged financial misconduct at alliance partner Nissan Motor Co.

The decision follows the removal of Ghosn as chairman approved last Thursday at a board meeting at Nissan, Mitsubishi’s largest shareholder.

Renault SA, partner of the two Japanese automakers in a three-way alliance, named an interim chairman and a deputy CEO to lead its management on a temporary basis last Tuesday, although Ghosn remains chairman and CEO.

Mitsubishi joined the Nissan-Renault alliance in 2016 when Nissan took a 34 percent stake in the automaker. Ghosn assumed the post of chairman at Mitsubishi Motors which was reeling from a fuel data manipulation scandal at the time. (Kyodo)