(Corrects Mitsubishi Motors Corp company RIC in 1st paragraph)
TOKYO, Oct 19 (Reuters) - Nissan Motor Co has decided to appoint its CEO, Carlos Ghosn, as chairman of Mitsubishi Motors Corp after Japan’s No. 2 automaker takes a 34 percent stake in its smaller rival, the Nikkei newspaper reported on Wednesday.
Ghosn is also asking Mitsubishi Motors Chairman and President Osamu Masuko to stay on as president of the company when Nissan takes a controlling stake in the embattled automaker, which is mired in a mileage-cheating scandal.
Spokespeople from both companies declined to comment on the report. Shares of Mitsubishi Motors jumped more than 10 percent at one point after the report.
Mitsubishi Motors will make a formal decision following a shareholders’ meeting in December, the Nikkei said. Nissan is set to close the deal by the end of the year. (Reporting by Naomi Tajitsu, Chang-Ran Kim and Taiga Uranaka; Editing by Stephen Coates)