Not long ago, Mitsubishi Motors CEO Rolf Eckrodt and Nissan Motors CEO Carlos Ghosn were seen as the kind of managers who could bring radical change to Japan Inc. Their jobs: to fix Mitsubishi and Nissan, midsize car companies with faded brands, awesome debt loads, and uncertain futures. Today, Nissan is one of the hottest car makers on the planet, increasingly admired for its quality and design. Mitsubishi, left in the lurch by controlling investor DaimlerChrysler, may be on its way to the minor leagues. The contrast was underscored on Apr. 26, when Ghosn reported record profits for Nissan, while Eckrodt stepped down at Mitsubishi, which is expected to report a $660 million loss.
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