Tetsuro Aikawa, President and COO of Mitsubishi Motors (MMC) in Japan, and Ryugo Nakao, Executive Vice President have resigned over the fuel economy testing scandal that emerged in April. (Earlier post.) The resignations are effective 24 June 2016.
The company said it would decide on the successors at the board of directors’ meeting.
Nissan is swooping in to take a 34% equity stake in MMC for ¥237 billion (US$2.17 billion) in the wake of the unveiling of the scandal.