Mitsubishi Motors Chairman Masuko resigns due to health reasons

Mitsubishi Motors logo. Credit: AFP

Mitsubishi Motors Corp on Friday said that Osamu Masuko would resign as chairman due to health reasons, and hand over the role to CEO Takao Kato on a temporary basis.

A veteran of the Mitsubishi conglomerate, Masuko joined the automaker in 2004, and became president in 2007. He oversaw the creation of the partnership between Mitsubishi and Nissan Motor Co in 2016, which saw Nissan take a controlling stake in the company.

The 71-year-old would stay on at Mitsubishi as a special advisor, the company said in a statement.