Mitsubishi Motors Corporation has voted to oust chairman Carlos Ghosn.
Following the financial misconduct allegations of last week which saw Ghosn dropped as Nissan chairman and Renault considering its options with an interim replacement, the Mitsubishi board decided to ditch Ghosn in just over an hour.
Chief executive Osamu Masuko will temporarily step up as Mitsubishi chairman before holding a separate meeting to appoint the role permanently.
Despite having said last week he didn’t “think there is anyone else on earth like Ghosn who could run Renault, Nissan and Mitsubishi”, Masuko, Mitsubishi Motors’ only standalone board member, says keeping Ghosn posed a “reputational risk” to the brand, Automotive News reports.
Masuko says he is “shocked” at the series of Ghosn events, but reassures that even though “shareholders and Mitsubishi customers, dealer and employees are worried about the future of the alliance…We’re not going to change.”
“We learned a lot from the alliance,” Masuko adds, as one of Japan’s longest-serving automotive executives having started with Mitsubishi in 2005.
The Mitsubishi board says “while Mr. Ghosn took the position as representative director and chairman of the board based on the Strategic Alliance Agreement between MMC and Nissan, he has lost the confidence of Nissan.”
“It is considered difficult for Mr. Ghosn to continue conducting his activities as the representative director and chairman of the board,” the company adds in a statement.
Ghosn, who remains detained in Japan, retains his position on the board as a director until voted out or resigning.
