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Carlos Ghosn Officially Ousted by Nissan

Three days after Japanese automaker Nissan dropped the bomb on the company’s chairman misconduct, the board of directors made the decision of ousting Carlos Ghosn official.
Carlos Ghosn 1 photo
In a statement released on Thursday, Nissan said it has decided to remove the executive from his position as chairman of the board and representative director. The same course of action is to be taken against Ghosn’s alleged partner in crime, Greg Kelly.

The decision comes only one day after Alliance partner Renault said it will not fire Ghosn from his position as company CEO until more is known about the deeds he is being held accountable for.

On Thursday Nissan also said it decided to seek advice on how to proceed next from an independent third party and voted on the creation of an advisory committee chaired by Masakazu Toyoda, tasked with looking for the next chairman of the company.

Meanwhile, Carlos Ghosn is incarcerated in Tokyo, at an undisclosed location, and it is to be expected he will remain there for another ten days, according to Japanese publication Asahi. Under Japanese law, people can be imprisoned for up to 20 days without and official indictment being brought against them.

The source says, citing Tokyo prosecutors, that Ghosn underreported $44.6 million in income over a four year period that spans from 2011 to 2015. For this, the iconic auto industry figure can get a jail sentence of 10 years, a symbolic $89,000 fine or both.

Aside from the questions surrounding Ghosn, fears that the Alliance between the Japanese and Renault are continuing to climb. On Wednesday, when announcing their support for Ghosn, Renault also demanded the Japanese come forth with more details on what exactly they are accusing the executive of.

Aside for under-reporting his income, Nissan also said Ghosn was engaged in “other significant acts of misconduct,” including "personal use of company assets."

press release
 
 
 
 
 

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