Industry/Official

Carlos Ghosn in trouble over financial misconduct

Carlos-Ghosn
File Photo

Sadly, another well respected auto executive is in trouble. This time, its one of the most powerful the industry has ever seen.

Carlos Ghosn, Chairman & CEO of Renault–Nissan–Mitsubishi Alliance has been arrested by the Japanese authorities over the allegations of a “serious” financial misconduct. Apparently, the investigation showed that over many years, both Ghosn and Nissan’s Greg Kelly have been disclosing compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount.

Nissan says that numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement in the same, which has also been confirmed.

Nissan’s Chief Executive Officer Hiroto Saikawa will propose to the Nissan Board of Directors to promptly remove Ghosn from his positions as Chairman and Representative Director. Saikawa will also propose the removal of Greg Kelly from his position as Representative Director.

Ghosn also holds Chairman & CEO positions at Renault, and an update from the company is yet to be released. As for Mitsubishi, the Board of Directors have proposed to remove Ghosn from his position as MMC’s Chairman of the Board and Representative Director.

Ghosn had big plans for the Alliance, especially with regards to electrification. He unveiled the Kwid-based all-electric Renault K-ZE in Paris in October.

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