Already serving as the CEO of both French automaker Renault, as well as its Japanese alliance partner Nissan, Carlos Ghosn will now become chairman of embattled automaker Mitsubishi.
It will put the Brazilian-born executive in a familiar role. He became chief operating officer at Nissan in 1999, following a $6 billion investment by Renault, and helped turned the then-struggling Japanese company around. Following a series of scandals, Mitsubishi now needs similar help.
And it could also help boost give a big boost to the Renault-Nissan Alliance, adding just enough volume for the Franco-Japanese partnership to brush aside rival Toyota to become the world’s best-selling auto company.