Mitsubishi Motors shareholders approve ouster of Ghosn

Nissan shareholders held an extraordinary shareholders’ meeting in April to oust Ghosn as chairman.

21 June 2019 | 10:23

Source: Associated Press

  • Source: Associated Press
  • Last update: 21 June 2019 | 10:23

A woman walks past a sign of Mitsubishi Motors at its headquarter in Tokyo Friday, June 21, 2019. (AP Photo)

TOKYO: Mitsubishi Motors Corp. shareholders approved on Friday the ouster of Carlos Ghosn, who was pivotal in the Japanese automaker’s three-way partnership with Nissan and Renault until he was arrested on financial misconduct charges last year.

The vote took place at a two-hour general meeting of shareholders at a Tokyo hotel, with approval shown in clapping from some 500 shareholders present, although some votes were submitted in advance. Nissan Motor Co. owns 34% of Mitsubishi Motors.

Osamu Masuko, who was reappointed chairman, promised to strengthen governance and transparency and monitor wrongdoing. More outsiders will check executive appointments and compensation, he said.

Nissan shareholders held an extraordinary shareholders’ meeting in April to oust Ghosn as chairman.

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