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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PM instructs armed forces that response to every action by Pak should be more forceful: Govt sources
New Delhi, May 11 (PTI): There is a new normal in India's response to cross-border terrorism, with Prime Minister Narendra Modi instructing the armed forces that the country's response to every action by Pakistan should be more forceful, government sources said on Sunday.
Following Operation Sindoor, Prime Minister Modi told the armed forces that bullets must be responded to by artillery (Wahan se goli chalegi, toh yahan se gola chalega), the sources said.
They said Operation Sindoor is not concluded and there is a new normal in India's response to cross-border terrorism. The cost of cross-border terrorism will be raised, and Pakistan can't continue with terrorism while expecting cooperation in areas of its choosing.
They also said that India will never accept mediation in the Kashmir issue and the only matter to discuss is Pakistan returning the territory which is under its illegal occupation
Foreign Secretary Vikram Misri on Saturday evening announced that India and Pakistan reached an understanding to stop all firings and military actions on land, air and sea, with immediate effect, after four days of intense cross-border drone and missile strikes.
The development was first announced by US President Donald Trump, who claimed that the two countries had agreed to a "full and immediate ceasefire" after US mediation.
In a statement, US Secretary of State Marco Rubio said he was "pleased to announce the Governments of India and Pakistan have agreed to an immediate ceasefire and to start talks on a broad set of issues at a neutral site".
The only matter related to Kashmir to discuss is Pakistan returning territory under its illegal occupation, Government sources asserted on Sunday.
They made it clear that the Indus Waters Treaty will be in abeyance as long as terrorism sponsored by Pakistan against India continues.
Only talks with Pakistan will be through the Director General of Military Operations (DGMOs). There is no other issue to discuss, the sources said.
India's position after the May 7 strikes on terror infrastructure was that if Pakistan fires, India will respond more forcefully, they said, adding it was the Pakistani DGMO who reached out to the Indian DGMO on May 10 to de-escalate situation
After the Pahalgam attack, India had told countries that reached out to New Delhi it would hit terror infrastructure in Pakistan territories.
After the May 7 strikes, every Pakistani action was dealt with very firmly, the sources said.
