Personnel Articles

MITSUBISHI Motors Corporation (MMC) chairman Osamu Masuko is stepping down after 15 years in the top job due to undisclosed health reasons, but says he will remain as a special advisor to the company going forward.

Mr Masuko started with the triple diamond brand in 1972 and negotiated with then Renault-Nissan Alliance chairman Carlos Ghosn for its purchase of one-third of Mitsubishi following a car-inspection scandal that gutted Mitsubishi’s stock.

He leaves the chairmanship as all three alliance members struggle with the effects of the ongoing COVID-19 pandemic and begin work on new mid-term strategies that draw heavily on the partnership.

Earlier this month, MMC posted a ¥22.06 million ($A290,000) loss for its financial year ending March 31, 2020, compared with a profit for the previous year of ¥135 million ($A1.8 million).

It is also pushing ahead with wide-ranging cost-cutting measures that include pulling out of manufacturing and sales in Europe and, in a blow for Australia, discontinuing the long-running Pajero off-roader.

Mr Masuko will be replaced in a temporary role by current CEO Takao Kato after being appointed as president of MMC back in 2005.

During his tenure, he was responsible for the introduction low-emission vehicles into the MMC model line-up including EVs and plug-in hybrids.

A year later he was also appointed chairman of the board.

Mr Masuko is now the fourth senior executive to leave the Alliance after Mr Ghosn was removed from his post in 2018 and the third within a year following the resignations of former Nissan CEO Hiroto Saikawa and Renault CEO Thierry Bollore last year.

By Neil Dowling

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