Reports: Nissan CEO Ghosn to head troubled Mitsubishi Motors

Carlos Ghosn, CEO of Japan's Nissan Motor, is due to hold a news conference amid reports he will become chairman of Mitsubishi Motors, presiding over efforts to turn the troubled automaker around.

The Brazilian-born Frenchman, who already heads Nissan and Renault, was to meet media later Thursday.

Nissan plans to take a 34 percent stake in Mitsubishi, maker of the Outlander sport-utility vehicle and the i-MiEV electric car, becoming its largest shareholder. The Japanese financial daily Nikkei and other newspapers reported, without citing sources, that Ghosn would become Mitsubishi's chairman.

Nissan agreed to take charge after Tokyo-based Mitsubishi was caught cheating to inflate mileage for minicar models, including vehicles it made for Nissan. Earlier, Ghosn said the two companies will maintain separate identities, brands and dealerships after the deal.