Carlos Ghosn officially folded troubled Mitsubishi Motors into the Renault-Nissan alliance and appointed himself chairman, forecasting nearly half a billion dollars in savings as soon as next year as the group joins a small club of automakers operating at a massive scale.
When Carlos Ghosn was brought in to rescue money-losing Renault in 1996, it took him only a year to turn the French carmaker around. The 20 billion French francs of expense cuts he imposed earned him the nickname Le Cost Killer.
The president of Mitsubishi Motors, Tetsuro Aikawa, will step down less than two years in the job amid a widening fuel economy scandal that torpedoed the automaker’s sales and led to it selling a controlling stake to rival Nissan Motor Co.
First, Nissan Motor Co. publicly called out Mitsubishi Motors Corp. for cheating on emissions tests, plunging its close partner into crisis and uncertainty about its very viability. Now Nissan may be riding to Mitsubishi’s rescue.
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