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Carlos Ghosn Arrested Again, Renault to Pay Him EUR 1 Million

The saga of the man who until last year was one of the main pillars of the automotive industry continues in twisted ways. In Japan, Ghosn was arrested again on Thursday morning, while in France Renault is still pondering how much money the man is still entitled to receive.
Carlos Ghosn 1 photo
Photo: Nissan
After about a month of freedom, Japanese prosecutors slapped cuffs back on Ghosn’s hands, this time for allegedly causing around $5 million in losses for Nissan by making payments to a foreign dealer “ "for the purpose of self-interest," says CNN citing the Tokyo prosecutor’s office.

"My arrest this morning is outrageous and arbitrary," Ghosn said according to the source via a spokesperson. "It is part of another attempt by some individuals at Nissan to silence me by misleading the prosecutors. Why arrest me except to try to break me? I will not be broken. I am innocent of the groundless charges and accusations against me."

At the time this was happening in Japan, across the world in Europe Renault top executives met to decide how much money the former head of the Alliance is still entitled too.

According to separate statements released on Thursday, Ghosn can look forward to receiving his “gross fixed remuneration for the 2018 financial year,” which amounts to EUR 1 million. He however will not receive the “portion payable in cash of his variable compensation for 2018,” namely EUR 224,000.

As for the pension plan Ghosn signed off on, its validity “can only be assessed on the day on which he would exercise his pension rights.”

The problems Ghosn is facing in Japan may soon extend to Europe as well. Having finished its own internal investigation Renault says it found no major issues with the way in which the CEO went about his business, but “certain expenses incurred by the former Chairman and Chief Executive Officer are a source of concern, as they involve questionable and concealed practices and violations of the Group's ethical principles.”

With that in mind, Renault “reserves the right to bring action before French courts, as and when more specific information involving breaches of Renault’s interests becomes available.”
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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