TOKYO (May 18, 2016) — The president of Mitsubishi Motors Corp., Tetsuro Aikawa, will step down less than two years in the job amid a widening fuel economy scandal that torpedoed the auto maker's sales and led to it selling a controlling stake to rival Nissan Motor Co. Mr. Aikawa will resign June 24, the date of Mitsubishi's annual shareholders meeting, the company announced May 18 in a statement. Also leaving the company then will be Ryugo Nakao, executive vice president in charge of quality and product strategy. Mitsubishi said it would name replacements later this year. Announcing the move at a press conference, CEO Osamu Masuko, 67, said he will stay to lead the company until Nissan completes its planned purchase of a 34 percent stake in Mitsubishi. He called his lieutenants' resignations a "big loss for Mitsubishi" and said he will handle their duties in the interim. Mr.