Last updated Tuesday, December 06, 2016 6:12 pm GMT+8

Wednesday October 19, 2016
01:43 PM GMT+8

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CEO of Nissan Motor Co Carlos Ghosn (pictured) will give the opening keynote at CES 2017. — AFP picCEO of Nissan Motor Co Carlos Ghosn (pictured) will give the opening keynote at CES 2017. — AFP picTOKYO, Oct 19 — Nissan Motor Co has decided to appoint its CEO, Carlos Ghosn, as chairman of Mitsubishi Motors Corp after Japan’s No. 2 automaker takes a 34 per cent stake in its smaller rival, the Nikkei newspaper reported today.

Ghosn is also asking Mitsubishi Motors Chairman and President Osamu Masuko to stay on as president of the company when Nissan takes a controlling stake in the embattled automaker, which is mired in a mileage-cheating scandal.

Spokespeople from both companies declined to comment on the report. Shares of Mitsubishi Motors jumped more than 10 per cent at one point after the report.

Mitsubishi Motors will make a formal decision following a shareholders’ meeting in December, the Nikkei said. Nissan is set to close the deal by the end of the year. — Reuters

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