Mitsubishi Motors shareholders formally agreed to remove Carlos Ghosn as chairman of the company in a vote held at a shareholders meeting in Tokyo this week.

Ghosn has also been removed from similar positions at Nissan Motor and Renault since his arrest in Japan last November following allegations of financial misconduct.

Ghosn was pivotal in establishing the Renault-Nissan alliance some two decades ago, rescuing the Japanese from the brink of bankruptcy in the process, and also in extending the alliance to include Mitsubishi Motors in 2016.

Renault owns 43.6% of Nissan Motor, while Nissan Motor owns 34% of Mitsubishi Motors and 15% of Renault. The alliance has come under significant strain since Ghosn's arrest with Nissan management resisting a full merger with the French automaker.

Osamu Masuko was reappointed chairman of Mitsubishi Motors at Friday's meeting and has promised to strengthen governance and transparency at the company, adding that more outsiders would be appointed to check executive appointments and compensation.