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William Maley

Mitsubishi News: Mitsubishi Motors' President Resigns

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Tetsuro Aikawa, Mitsubishi Motors' president and COO will be stepping down from the company next month. In a statement released by the company, Aikawa will resign on June 24th, the same date of Mitsubishi's annual shareholders meeting.


Ryugo Nakao, the executive vice president for quality and product strategy will also be stepping down at the same time.


Automotive News reports that Akiawa stepped down for two key reasons. The first was that he was the director of the r&d division that inflated the fuel economy test figures. The second is to give a clean slate for the new development chief, that will likely be installed by Nissan as part of the two companies' new alliance.


“For causing trouble and worry first and foremost to our customers and to all involved, I take responsibility,” said Akiawa.


During a press conference today, CEO Osamu Masuko said he would handle the duties of both people for the time being until replacements are found.


Source: Automotive News (Subscription Required), Mitsubishi Motors


Press Release is on Page 2

Click here to view the article

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Yea, they will do the accept blame but I am sure they are still walking away with a very nice golden parachute.

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