LONDON: Nissan-Renault CEO Carlos Ghosn is called upon to revive the fortunes of Mitsubishi which is hit by scandal.
Nissan has investment stake in Mitsubishi and is keen to turn around the Japanese company to its former glory.
The embattled Mitsubishi faces big scandal-related costs in Japan. Production losses, penalties, and compensation to customers could total as much as $3.4 billion, estimates Goldman Sachs analyst Kota Yuzawa.
Under Nissan’s agreement with Mitsubishi, Ghosn has a year to complete the investment deal. Yet BMI Research says even that might not be enough time to carry out a thorough investigation and “pinpoint all of the misconduct by the corporate management.”
Ghosn says Nissan will be able to confirm all the facts before completing the Mitsubishi investment deal within four months.
If somehow Mitsubishi doesn’t confirm its numbers and projections, he says, it’s a reason to “stop whatever we are engaging.”
Ghosn takes on new mission to save Mitsubishi
Ghosn takes on new mission to save Mitsubishi
