TOKYO, Oct. 20 (UPI) -- Carlos Ghosn, head of Nissan Motors and Renault, will become chairman of Mitsubishi Motors Corp. to help the faltering automaker get back on track after a fuel-economy rigging scandal.
The move puts Ghosn, 62, as the head of three major automobile makers. He said Mitsubishi's current chairman and CEO, Osamu Masuko, will stay on as CEO. The announcement of Ghosn as chairman coincides with Nissan Motor Co.'s acquisition of a $2.3 billion stake in Mitsubishi, making Nissan the largest shareholder with a 34 percent stake. Among the two things the companies will share are finance company resources and plug-in hybrid and autonomous driving technology.