Ghosn Expected to Add Mitsubishi Motors Chairmanship

Carlos Ghosn, already CEO of Renault and Nissan, will add the chairmanship of Mitsubishi Motors Corp. when Nissan takes control of the ailing Japanese carmaker, according to multiple media reports.

The Nikkei reports that Ghosn has asked MMC Chairman and President Osamu Masuko to continue in the latter role.

Nissan said in May it will spend 237 billion yen ($2.3 billion) to buy a 34% controlling stake in MMC. The deal arose after MMC admitted falsifying fuel economy ratings for several of its models, including two minivehicles marketed under Nissan’s brand. The scandal hurt Mitsubishi sales and triggered a 40% drop in the company’s share price.

Nissan expects to finalize its investment by year-end. When it does, the combined stake in MMC still held by members of the Mitsubishi Group will drop to about 17%.