Nissan reportedly to fire chairman Carlos Ghosn over misconduct


Nissan CEO Carlos Ghosn, at the 2015 Tokyo Motor Show

Nissan CEO Carlos Ghosn, at the 2015 Tokyo Motor Show

Carlos Ghosn, the man credited with saving Nissan from bankruptcy in the late-1990s, allegedly lied about his salary to investors and used company money for personal expenses, the automaker said Monday. In a statement, Nissan said it would remove Ghosn and another director, Greg Kelly, after an internal investigation revealed the alleged fraud.

The Washington Post reported that Ghosn was arrested Monday.

"The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation." Nissan said in a statement.

Nissan CEO Hiroto Saikawa reportedly will meet with the Nissan board Thursday to propose Ghosn and Kelly's ouster.

“Beyond being sorry I feel great disappointment, frustration, despair, indignation and resentment,” he said Monday, according to The Associated Press.

Nissan CEO Carlos Ghosn at 2016 New York Auto Show roundable discussion

Nissan CEO Carlos Ghosn at 2016 New York Auto Show roundable discussion

Ghosn is also the chairman and chief executive of France’s Renault and chairman of Mitsubishi Motors. Neither automaker has publicly spoken about the future of his roles.

The Brazilian-born and French citizen has been a force within the industry for over a decade. He only stepped down as CEO of Nissan in 2017 to focus on his larger role as chairman of Nissan, Renault, and Mitsubishi, and head of the sprawling Renault-Nissan-Mitsubishi alliance. Last year, he said the alliance was on track to rival larger automakers such as VW and General Motors.

Ghosn was also knighted in 2006 for his significant contribution to Nissan in the United Kingdom.

 
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