Carlos Ghosn named Mitsubishi chairman as new executive roles created

TOKYO: Carlos Ghosn took another step toward integrating Mitsubishi Motors Corp into a three-way alliance that can produce about 10 million vehicles a year after shareholders at the Japanese automaker approved his nomination as chairman.

Ghosn, already chairman and chief executive officer at Nissan Motor Co and Renault SA, wil l join three other Nissan-appointed executives on the Mitsubishi Motors board of directors after shareholders voted to approve a series of proposals on Wednesday. Nissan in October completed its acquisition of a $2.3 billion stake in Mitsubishi Motors after a fuel-economy cheating scandal threatened the automaker with its first annual loss in eight years.

“I know you will have interrogations about whether this enlarged alliance will work,” Ghosn, 62, told shareholders at the extraordinary meeting. “From past experience, I am confident that it will.”