Photo: Mitsubishi
Mitsubishi Motors’ President has decided to step down from the top level function after the fuel economy scandal erupted last month.
The company’s President Tetsuro Aikawa will leave his position voluntarily. His attributions will be temporarily taken over by Mitsubishi Motors CEO, Osamu Masuko, aged 67.
Mr. Masuko will take care of things until Nissan Motor Company, the newest shareholder at Mitsubishi, completes the purchase of 34% of Mitsubishi stock options.
The news comes from Japanese business newspaper Nikkei Asian Review and has yet to be confirmed by Mitsubishi Motors. However, we would be surprised if this story were not true, as company leaders usually step down from their positions when the businesses they lead fall into deep trouble.
Other CEOs or presidents have preferred to stay in charge through a scandal and tried to bring the business back to safety, but few manage to achieve such feats.
Mr. Aikawa, aged 62, decided against soldiering on at the helm of Mitsubishi, as he used to work for the product development unit.
Considering that Mitsubishi Motors has admitted to falsely declaring fuel economy figures since 1991, Mr. Aikawa has taken the blame upon himself for the scandal, which originated from the same division he used to work in, Automotive News notes.
In the case of Volkswagen’s Dieselgate, several executives of the German company have been put on temporary leave for an investigation and then decided to step down from their posts. Among them was Dr. Ulrich Hackenberg, who used to lead the technical department of Audi, a brand of the German corporation.
Like Aikawa, Dr. Hackenberg worked for the division responsible for what led to a massive worldwide scandal, as Hackenberg also used to work for the technical development groups of the entire Volkswagen Group. The famous “defeat device” was reportedly developed by Audi in 1999.
We expect Mitsubishi Motors to receive a new president once Nissan Motor Company completes the acquisition process. Once that’s over, the three-diamond brand is supposed to get a full restructuring treatment to renew its range and earn more money.
Mr. Masuko will take care of things until Nissan Motor Company, the newest shareholder at Mitsubishi, completes the purchase of 34% of Mitsubishi stock options.
The news comes from Japanese business newspaper Nikkei Asian Review and has yet to be confirmed by Mitsubishi Motors. However, we would be surprised if this story were not true, as company leaders usually step down from their positions when the businesses they lead fall into deep trouble.
Other CEOs or presidents have preferred to stay in charge through a scandal and tried to bring the business back to safety, but few manage to achieve such feats.
Mr. Aikawa, aged 62, decided against soldiering on at the helm of Mitsubishi, as he used to work for the product development unit.
Considering that Mitsubishi Motors has admitted to falsely declaring fuel economy figures since 1991, Mr. Aikawa has taken the blame upon himself for the scandal, which originated from the same division he used to work in, Automotive News notes.
In the case of Volkswagen’s Dieselgate, several executives of the German company have been put on temporary leave for an investigation and then decided to step down from their posts. Among them was Dr. Ulrich Hackenberg, who used to lead the technical department of Audi, a brand of the German corporation.
Like Aikawa, Dr. Hackenberg worked for the division responsible for what led to a massive worldwide scandal, as Hackenberg also used to work for the technical development groups of the entire Volkswagen Group. The famous “defeat device” was reportedly developed by Audi in 1999.
We expect Mitsubishi Motors to receive a new president once Nissan Motor Company completes the acquisition process. Once that’s over, the three-diamond brand is supposed to get a full restructuring treatment to renew its range and earn more money.
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