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Masuko to step down as Mitsubishi Motors CEO, Kato to succeed him

TOKYO — Mitsubishi Motors Corp said on Friday that Osamu Masuko will step down as its chief executive on June 21 and be replaced by Takao Kato, who is president of its operations in Indonesia. Masuko will retain his role as chairman of the board, Mitsubishi Motors said in a statement, adding that Masuko and Kato will hold a press conference on May 20 to discuss the changes. Japan's sixth-largest automaker, in which Nissan Motor Co holds a controlling stake, said this month it expects profit to fall to 90.0 billion yen ($821 million) in the year to March as it navigates slowing demand for cars, global trade frictions and the need to develop new technologies. Mitsubishi's partners Nissan and France's Renault are meanwhile grappling with the fallout from the arrest of Carlos Ghosn, the group's former chairman, who is facing charges of financial misconduct in Japan. Ghosn has denied all charges against him. Reporting by Stanley White.

Long-serving Mitsubishi president Masuko to step aside

Long-struggling Mitsubishi Motors is reportedly preparing for a changing of the guard at home. According to Reuters, Osamu Masuko will step aside in favor of Tesuro Aikawa, currently the company's managing director. Masuko won't be leaving the fold entirely, however - he will take the role of chairman, displacing Takashi Nishioka, who will resign. The shakeup has not been confirmed by Mitsubishi, but word is that the changes will take effect April 1.
Mitsu's US troubles are no secret, but the brand's struggles in its home market haven't been quite so publicized. The company was bailed out by other arms of the Mitsubishi empire, and it just raised $2 billion this month to buy back preferred shares that were issued during the bailout. Masuko served as president for nearly ten years, during which the brand's US efforts utterly stalled out, recalls cropped up in Japan and an alliance with Daimler (which was DaimlerChrysler at the time) disintegrated.
According to Reuters, establishing the kind of alliances that will allow the brand to grow, such as its tie-up with Renault-Nissan, are key to Mitsu's long-term success. The thought is that an alliance will allow the brand to come up with some innovative models that won't be compromised by its lack of production scale. It looks like Aikawa has his work cut out for him.

Mitsubishi hopes you'll trade driving data for a cheaper oil change

Companies and cities love it when you supply driving data, but how do they convince you to hand it over? In Mitsubishi's case, it's simple: shower people with gifts. The automaker has launched a mobile app that asks American commuters to share data on their driving habits with insurance companies in return for badges they can exchange for rewards. Mind your road manners (such as staying within the speed limit or avoiding sudden braking) and you can get discounts on oil changes and car accessories. You should also receive free coffee and gift cards by the end of 2018. Insurers and local governments have tried similar strategies, but this is the first of its kind directly from a car company. Mitsubishi's Bryan Arnett described this to the Wall Street Journal as a way to "stabilize the business" with alternate sources of income if car sales slip. The catch, as you may have guessed, is that insurers will have your data. The Mitsubishi project will help insurers understand driving patterns and adjust their risk profiles, potentially lowering your rates if you drive safely. However, you're potentially subjecting yourself to scrutiny for every little decision you make on the road, often without context. If you push past the speed limit to get out of a big rig's blind spot, will Mitsubishi know the difference between that and genuinely reckless driving? Probably not. Simultaneously, there's a concern that insurance companies may try to make this kind of data collection mandatory if you want to avoid stiff premiums, rather than a bonus. If they did, you wouldn't have much choice but to sacrifice privacy if you wanted to drive. The move draws attention to the practices of the car makers themselves, for that matter. Many of them are aware that car ownership might not last forever, and they may increasingly turn to data harvesting strategies like this to offset any potential sales drops.This story originally appeared on Engadget, your guide to this connected life.Related Video: