Nissan board votes to oust arrested CEO

Глава Nissan попался на серьезных махинациях

In the newest development involving Carlos Ghosn, the Nissan board has unanimously made a decision to dismiss him as Chairman of the company.

The two, dismissed from their positions at a Nissan board meeting on November 22, allegedly filed financial statements with the Kanto Local Financial Bureau stating that the former chairman earned around 4.987 billion yen, when he actually made 9.998 billion yen, in violation of the Financial Instruments and Exchange Act.

Ghosn is one of the auto industry's most high-profile executives.

Nissan insisted Ghosn's arrest followed several months of internal investigation following allegations from a whistleblower. The company dismissed Ghosn and Kelly on Thursday.

Renault's board has so far stood by Ghosn - naming his deputy Thierry Bollore to handle day-to-day business. Acknowledging the "particular situation" the company is in, he pledged his "full commitment" to Renault's 180,000 workers and its partners and customers. Yet Nissan is 60 percent bigger than the French automaker by sales.

Speaking to The Associated Press, Le Maire said "this turbulence shouldn't weaken" the Renault-Nissan alliance or its hundreds of thousands of jobs.

The head of the Alliance Renault-Nissan-Mitsubishi-Carlos Ghosn, arrested by the Tokyo district public Prosecutor on November 19 at the Haneda airport, shortly after landing. A day later, Greg Kelly, a Nissan board member and former representative director at the vehicle maker, was also arrested. Their replacements will be decided later, it said. Officially, he is accused of - with accomplices -, "minimized his reward on five occasions between June 2011 and June 2015", declaring a total sum of 4.9 billion yen (around € 37 million) instead of approximately 10 billion yen.

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Both Ghosn and Kelly could get up to 10 years in prison, a fine of up to 10 million yen, or both for filing a false financial statement.

The board of Mitsubishi Motors was reportedly set to meet on Monday to discuss Ghosn's future. He is being held at a detention center, where prisoners are typically fed basic rations of rice and miso soup. He gave few details about the case.

Under Japanese law, suspects in jail can face additional arrest warrants, which can impose heavier charges. "Saikawa is in a position to represent anti-Ghosn sentiment that's been building up for years within Nissan". Since 2005, he combined the posts of President and CEO of Renault.

A nightmare scenario for Nissan could arise if prosecutors fail to bring a successful case against Ghosn and he returns as Renault chairman. Its board members unanimously voted on Thursday night to oust Ghosn as chairman following a lengthy meeting. His background is in human resources and alliance management.

Combined, Ghosn has understated his remuneration at Nissan by around ¥8 billion in the eight years through the fiscal year that ended in March, the paper said, without citing sources.

Since then, he has engineered deeper integration between Nissan and Renault.

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