Heads are rolling over at Mitsubishi because of the the fuel economy scandal that a the attention of quite a few people, and got worse as people learned that this has been going on for a while. Media outlets including the CBC are reporting that the guy at the top of the food chain no longer has his job because of this fiasco:
Mitsubishi Motors Corp. President Tetsuro Aikawa said Wednesday that he will step down to take responsibility for the mileage cheating scandal unfolding at the Japanese automaker.
Aikawa has denied personal involvement in wrongdoing, but it is common for executives at major Japanese companies to resign to show remorse. His resignation is expected to become final on June 24, upon shareholders’ approval. A successor was not announced.
I’m guessing that his successor is coming from Nissan who is buying a stake in the troubled automaker. Presumably at bargain basement prices. But the fun isn’t over. This news also came out today:
Just a couple of hours before Aikawa’s news conference, Japanese automaker Suzuki Motor Corp. apologized Wednesday for improper road tests, but denied reports it illegally falsified mileage numbers.
Suzuki’s dubious tests did not affect models sold abroad. The government had instructed all automakers to check on mileage tests after the Mitsubishi scandal surfaced.
Suzuki shares fell in Tokyo trading Wednesday on Japanese media reports the company might have cheated on mileage, but recovered to close down 9 percent.
Hmmm…. Suzuki doesn’t sell cars in Canada and the US anymore. So this doesn’t really affect North America. Still it’s not good news for them. One wonders if there are other car companies who could be hit by something like this?
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This entry was posted on May 18, 2016 at 8:42 pm and is filed under Commentary with tags Mitsubishi. You can follow any responses to this entry through the RSS 2.0 feed.
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Mitsubishi Exec Walks The Plank Over Fuel Economy Scandal
Heads are rolling over at Mitsubishi because of the the fuel economy scandal that a the attention of quite a few people, and got worse as people learned that this has been going on for a while. Media outlets including the CBC are reporting that the guy at the top of the food chain no longer has his job because of this fiasco:
Mitsubishi Motors Corp. President Tetsuro Aikawa said Wednesday that he will step down to take responsibility for the mileage cheating scandal unfolding at the Japanese automaker.
Aikawa has denied personal involvement in wrongdoing, but it is common for executives at major Japanese companies to resign to show remorse. His resignation is expected to become final on June 24, upon shareholders’ approval. A successor was not announced.
I’m guessing that his successor is coming from Nissan who is buying a stake in the troubled automaker. Presumably at bargain basement prices. But the fun isn’t over. This news also came out today:
Just a couple of hours before Aikawa’s news conference, Japanese automaker Suzuki Motor Corp. apologized Wednesday for improper road tests, but denied reports it illegally falsified mileage numbers.
Suzuki’s dubious tests did not affect models sold abroad. The government had instructed all automakers to check on mileage tests after the Mitsubishi scandal surfaced.
Suzuki shares fell in Tokyo trading Wednesday on Japanese media reports the company might have cheated on mileage, but recovered to close down 9 percent.
Hmmm…. Suzuki doesn’t sell cars in Canada and the US anymore. So this doesn’t really affect North America. Still it’s not good news for them. One wonders if there are other car companies who could be hit by something like this?
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This entry was posted on May 18, 2016 at 8:42 pm and is filed under Commentary with tags Mitsubishi. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.