Mitsubishi Motors CEO to Resign June 24 Over Fuel-Cheating Scandal

MOSCOW (Sputnik) — Mitsubishi Motors Corporation (MMC) announced on Wednesday that its president Tetsuro Aikawa would resign over the recent fuel-efficiency cheating scandal.

In April, MMC admitted falsifying fuel consumption rate tests on the company's mini-cars, which led to a significant decline in MMC stocks. The company acknowledged it had rigged the fuel tests for some 25 years, and 625,000 mini-cars manufactured by MMC and distributed through Nissan Motors Corporation (NM), were sold with improper fuel consumption results.

"We inform you of the following: resignation of President and COO [chief operating officer] Tetsuro Aikawa," the car manufacturer said in a statement.

According to the statement, the date of the resignation is June 24, which is the regular shareholders' meeting. Aikawa's successor will be determined by the Board of Directors, and will be disclosed promptly, the company said.

​Aikawa started his career within MMC in 1978, and became the president, chief operating officer and representative director of MMC in 2014.