Mitsubishi Motors CEO, COO shall resign over mileage scandal

Mitsubishi Motors Corp‘s leading two executives are most likely to resign over the Japanese automaker’s manipulation of fuel economy information, Japanese media reported on Wednesday, in a scandal that has actually downed the company’s market price in half in a week.

Chairman and Chief Executive Officer Osamu Masuko has currently informed some affiliated dealers and parts makers of his intent to resign, the Yomiuri daily stated. Independently, the Mainichi daily reported President and Chief Operating Officer Tetsuro Aikawa has chosen to step down.

Firm said on Tuesday it utilized fuel economy testing techniques that did not comply with Japanese regulations for 25 years. It stated it would establish an external committee to examine the matter and report the lead to 3 months. It initially flagged the manipulation on 4 models last Wednesday.

Masuko and Aikawa are anticipated to resign after the committee reports the results, as per the papers.

A Mitsubishi Motors spokesperson has rejected to comment.