Mitsubishi Motors Corp. Chairman Osamu Masuko is stepping down after 15 years due to health reasons, just as the Japanese automaker’s alliance with Nissan Motor Co. and Renault SA is being shaken by deteriorating profits.
Chief Executive Officer Takao Kato will temporarily assume the role of chairman from Friday, Mitsubishi Motors said in a statement. Masuko will remain as a special adviser to the company, which didn’t elaborate on his condition.
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