After purchasing a 34% controlling stake in Mitsubishi Motors, Nissan will now focus their efforts on rebuilding Mitsubishi’s credibility without imposing management changes.
Nissan CEO Carlos Ghosn said that helping Mitsubishi best-survive its fuel-economy cheating scandal will be his top challenge, but unlike it was reported yesterday, his company will only propose future board members at Mitsubishi, without “imposing anybody”.
Ghosn also added that Mitsubishi CEO Osamu Masuko will remain in charge after the deal is completed, as reported by Autonews. “The biggest challenge is to support Mitsubishi changing itself and growing and being profitable and restoring its reputation,” said the Nissan CEO.
A day after news broke of the deal, Nissan shares jumped 4.1%, while Mitsubishi shares fell 1.7% after surging by 16% on Thursday.
The deal being completed is still subject to due diligence. “We don’t want to anticipate on the [results of the] due diligence,” said Ghosn, while specifying that he’s waiting for the results of the Japanese regulators’ investigation into Mitsubishi – whose headquarters were raided on Friday after allegations hit that a manager at the company ordered the cheating at a subsidiary that handles fuel-economy testing.