Mitsubishi Motors fires Carlos Ghosn, CEO to be interim chairman
Tokyo, Nov 26 (AP): 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."
But Masuko insisted the three-way alliance will persevere, saying it's critical for the automakers' futures, especially in working together on new technologies such as autonomous driving, artificial intelligence and connectivity for vehicles.
"We believe the alliance is needed," Masuko told reporters at Mitsubishi Motors' showroom at headquarters.
"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."
Renault has kept Ghosn as chief executive, while appointing an interim chair while the company awaits more information about the allegations against him.
The disruptions over Ghosn's case have added to worries about the future of the alliance between Renault, Nissan and Mitsubishi, whose status as the most recent addition could be more precarious.
European media have speculated that the case against Ghosn was partly driven by a desire to fend off moves to merge Renault and Nissan and keep the company under Japanese control.
Resentment within the Japanese automaker against Ghosn's pay and power may also have played a role.
Ghosn has been a dominant force in the Japanese auto industry for nearly two decades.
He led the addition of Mitsubishi into the alliance in 2016 after the smaller automaker was embroiled in an inspections reporting scandal.
Nissan holds a 34 per cent stake in Mitsubishi.
Japanese media, citing unidentified sources, are reporting that Ghosn and Greg Kelly, an executive who was arrested on suspicion of collaborating with him, are asserting their innocence. Ghosn has not commented publicly.
The two executives have not yet been charged. Under Japanese law, a suspect can be held in custody for up to three weeks per suspected charge without any charges being filed.
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India dismisses report of Musk joining Modi-Trump call; says it was between 2 leaders only
New Delhi (PTI): India on Saturday rejected a media report that said billionaire Elon Musk joined a phone conversation between Prime Minister Narendra Modi and US President Donald Trump earlier this week.
External Affairs Ministry spokesperson Randhir Jaiswal said Tuesday's conversation was between the two leaders only.
The New York Times, quoting unnamed US officials, reported that Musk participated in the call between Trump and Modi, adding it was an "unusual appearance" by a private citizen on a call between two heads of state.
"We have seen the story. The telephone conversation on March 24 was between Prime Minister Narendra Modi and President Donald Trump only," Jaiswal said.
"As has been stated earlier, it provided the opportunity for exchange of views on the situation in West Asia," he said.
In its report, the New York Times said it is "unclear" why Musk was on the call or whether he spoke.
Our prime minister only spoke to Trump and there was no one else who spoke to the PM, people familiar with the matter said.
They suggested that it is for Washington to clarify if somebody else was in the room or listening to the conversation.
The New York Times said Musk's participation in the phone call signalled a reconciliation between the billionaire and Trump.
The two had fallen out last year following Musk's exit from a government task force charged with slashing the federal workforce.
The US president had initiated the phone call with Modi to discuss the West Asia crisis.
It was the first conversation between the two leaders since the West Asia conflict began on February 28.
In the conversation, Modi underlined the importance of ensuring that the Strait of Hormuz remains open, secure and accessible, noting that it is vital for global peace, stability and economic well-being.
