Deals
Nissan Seals $2.3 Billion Mitsubishi Motors Stake Acquisition
- Chief competitive officer Saikawa becoming Nissan co-CEO
- Mitsubishi Motors president sees $241 million in synergies
Ghosn: Priority for Mitsubishi Is Establish Trust
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Nissan Motor Co. completed its acquisition of a $2.3 billion stake in Mitsubishi Motors Corp., clearing the way for Carlos Ghosn to take over as chairman of a scandal-plagued partner and embark on his bid to turn around a third major automaker.
Ghosn, already chairman and chief executive officer at Nissan and Renault SA, promoted Chief Competitive Officer Hiroto Saikawa as co-CEO of Nissan. The move allows Ghosn to dedicate more time to repairing trust in Mitsubishi Motors after a months-long fuel economy scandal that may lead to the carmaker’s first annual loss in eight years.