Mitsubishi chairman Osamu Masuka resigns

Mitsubishi chairman Osamu Masuka, who worked at the Japanese brand for almost 50 years, has resigned due to health reasons.

The chairman of Mitsubishi’s board has resigned for health reasons, effective immediately.

Osamu Masuko, who has held the position since 2019, will be temporarily replaced by current CEO Takeo Kato, although he will continue to consult with Mitsubishi as a special advisor.

Masuko has worked for Mitsubishi for almost 50 years, joining in 1972. He rose to the position of CEO in 2014 and became chairman five years later.

He was one of the driving voices behind Mitsubishi’s adoption of electric vehicles and plug-in hybrids, such as the best-selling Outlander PHEV, and drove expansion in South-East Asia.

Kato took over from Masuko as CEO last year. Formerly the Mitsubishi boss in Indonesia, he has vast experience of emerging markets – a priority for his firm as part of the Renault-Nissan-Mitsubishi Alliance’s recently overhauled global plan.

Last month, Mitsubishi halted new model launches in Europe in order to focus its resources on the more lucrative South-East Asian market.

Will Trinkwon

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