Nissan to oust Carlos Ghosn over misconduct allegations
Tokyo — Nissan said it plans to oust chair Carlos Ghosn after alleging he had used company money for personal use and committed other serious acts of misconduct. Japanese media reported that Ghosn, who is also chairman and CEO of Nissan’s French partner Renault and one of the best-known figures in the global car industry, had been arrested. The Japanese carmaker said that based on a whistle-blower report, it had been investigating possible improper practices by Ghosn and representative director Greg Kelly for several months, and that it was fully co-operating with investigators. “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. Neither Ghosn nor Kelly could be reached for comment. The company said CEO Hiroto Saikawa would propose that the Nis...
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