Mitsubishi Motors fires Ghosn, CEO to be interim chairman

The board of Japanese automaker Mitsubishi Motors, which is allied with Renault and Nissan, voted unanimously Monday to dismiss Carlos Ghosn as its chairman following his arrest last week.

Prosecutors arrested Ghosn on November 19 on suspicion he under-reported his income by USD 44 million over five years.

Nissan Motor Co ousted him as its chairman last week, saying an internal investigation prompted by a whistleblower also found Ghosn misused company money and assets.

Mitsubishi Motors' CEO Osamu Masuko, chosen by the board as acting chairman pending a shareholders' meeting, said Ghosn would not be able to perform his duties, considering his arrest and Nissan's dismissal of him as chairman.

Masuko said he did not know the specifics of the criminal allegations and declined comment on the case.

When asked for his personal view about the situation, Masuko said he was baffled.

"To be honest, I was shocked, and I couldn't believe it," he told reporters at Mitsubishi Motors' showroom at headquarters.

"I still can't figure out why, and I just don't understand."
"Where the three companies are headed is not confrontation."
Ghosn was central in creating the alliance, but would have had to leave eventually, he said, adding just that the "timing had come sooner."