Tuesday , January 25 2022

Carlos Ghosn: France is looking for temporary control of Renault


This Friday, April 20, 2018, Nissan Chairman Carlos Ghosn speaks during an interview in Hong Kong. (Kin Cheung / AP)

Minister of Foreign Finance Bruno Le Maire called on Tuesday for an "interim governance" structure to be implemented in Renault while Carlos Ghosn's auto-operative financial investigations were being investigated.

Gosn was arrested on Monday in Japan, where he served as chairman of Nissan. The Japanese Automaker announced that Gosn would be dismissed because of "significant acts of misconduct," including his own unpublished salary and having used company assets for personal benefit.

Ghosn, a French citizen from the origin of Libanus, also serves as chairman of Mitsubishi Motors and chairman and chief executive of Renault France. The French government manages a 15 per cent share in that company, and the news from Japan seems to keep Paris safeguarding.

"Carlos Ghosn is no longer in a state to lead the group," said Le Maire, speaking on the Info France TV on Tuesday morning.

But Le Maire added that he was calling for answers, not necessarily for the resignation of Ghosn. He said that the government was beginning to explore Ghosn's financial activities in France after Nissan's news broke in Japan, but at the moment, "there is nothing special to report on Mr Ghosn's tax situation in France."

At the moment, Le Maire said, that the French government would not demand the departure of the Renault Board's departure because "we have no proof" of any financial faults in France.

The board has the opportunity to start on Tuesday night in Paris to settle on a new interim governance structure.

The news about arresting the shock of Ghosn has provoked an even more defensive reaction in Libanus, where its heritage is a source of pride.

Foreign Minister Gibran Bassil announced a statement saying he had instructed Lebanese ambassador in Tokyo to follow the case and ensure that he was treated fairly, according to the Associated Press.

Ghosn is a "model of Lebanon's success abroad and the Lebanese Ministry of Foreign Affairs will stand in its crisis to make sure it gets a fair trial," said Bassil.

In Japan, a sudden ghost of strange headings fell, with the details of the allegations against him dropping to the media.

NHK's national broadcaster said Nissan had paid "huge sums" to buy and maintain luxury residences for Gosn in Beirut, Paris, Amsterdam and Rio de Janeiro that were not justified for legitimate business reasons.

The purchases were not disclosed in stock market files, while Ghosn pays rent rents, an alleged NHK, stating unnamed sources.

Nikkei's newspaper, noting sources of anonymity again, claimed that nearly $ 18 billion dollars were accessed through a Dutch subsidiary of Nissan to buy a condominium on the strip of Rio's famous Cabana Copa and luxury home in Beirut.

NHK also claimed that Gosn, who was responsible for paying the 13 best Nissan operators, had siphoned some of that money as his own secret.

Public prosecutors have only confirmed that Gosn, together with the representative director of Greg Kelly, has been arrested for failing to declare the amount of $ 44 million in Ghosn's income on Nissan's official securities reports issued over five years beginning from 2011.

Nissan shares have dropped more than 5 percent in Tokyo's trade on Tuesday.

"It's very distressed," said Prime Minister Secretary of the Japanese Cabinet, Yoshihide Suga, for reporters. "We will watch developments closely."

Denyer reported from Yokohama, Japan.

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