TOKYO – Mitsubishi Motors on Friday that Osamu Masuko resigned as chairman and board member.
Masuko joined Mitsubishi Motors in 2004 as the company at the breaking point of a currency crisis as it struggled to cope with the recalls of millions of its cars due to defects in vehicles that had been covered for decades. He became president in 2005 and has since run the company. He was appointed president and chief executive officer in 2014. He ran into trouble in 2016 when a knowledge scandal about the power of power shook the company.
Thanks to his relationship with Nissan Motor President Carlos Ghosn, Masuko was able to gain advantages from a money lifeguard in which Nissan bought a majority stake of more than $2 billion in Mitsubishi. Ghosn took over as president of Mitsubishi and Masuko became president again.
Last year, he resigned as CEO, replaced through Takao Kato, who is president of the company’s Operations in Indonesia. Masako then returned to his role as president.
After 2016, he planned to work with Nissan to expand Mitsubishi’s U.S. operations. And Europe, but the plan overshadowed the emerging costs. The spread of the coronavirus pandemic has also affected sales, and Mitsubishi expects a net loss of 360 billion yen ($3.4 billion) for this fiscal year.
In its medium-term business plan published in July, Mitsubishi Motors revealed its goal of freezing new car launches in Europe. Meanwhile, the automaker will rebuild its operations in Southeast Asia.
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