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Nissan's Ghosn to serve as Mitsubishi Motors chairman

Nissan Motor President Carlos Ghosn

TOKYO -- Nissan Motor President Carlos Ghosn will serve as chairman of scandal-hit Mitsubishi Motors, sources said on Wednesday.

Nissan has asked Osamu Masuko, Mitsubishi's chairman and president, to stay on as president, the sources said.

By the end of the month, Nissan plans to acquire a 34% stake in Mitsubishi, which is struggling in the aftermath of a scandal over false mileage data. The idea is to kick-start the reform process by having Ghosn -- the chief of the Nissan-Renault alliance -- oversee Mitsubishi's management.

Mitsubishi's board is to sign off on the decision after a shareholders meeting in December. 

The data scandal came to light in April, when the company admitted that employees manipulated fuel economy information for its minicars.

With the planned investment, Mitsubishi will effectively join the Nissan group.

Ghosn, who will be directly involved in running Mitsubishi, will work to change the automaker's culture and explore synergies.

(Nikkei)

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