The chairman of the board of the Japanese concern Mitsubishi Motors Osamu Masuko has left his post for health reasons, Reuters reported on August 7.
It is noted that 71-year-old Masuko will remain with the company as a special advisor. Takao Kato, executive director of Mitsubishi Motors, will temporarily take over his post.
Masuko joined the automaker’s team in 2004 and took over the company in 2007. In particular, he oversaw the creation of the partnership between Mitsubishi and Nissan in 2016, which resulted in Nissan gaining a majority stake in the company.
On July 27, it became known that Mitsubishi Motors will freeze the launch of new models in Europe as part of the global anti-crisis plan.
In addition, the company plans to cut costs by 20% in the next two years, revise the geography of car deliveries, invest in key projects, and abandon unprofitable products.