Monday , January 17 2022

The Nissan board meets the rule of two decades of Ghosn


TOKYO (Reuters) – Nissan Motor Co (7201.T) is holding a board meeting on Thursday to rest Chair Carlos Ghosn after arresting the shock of his once-loved leader, using a period of uncertainty about his 19-year league with Renault (RENA.PA).

Journalists sit in front of the Nissan Motor Co global headquarters marker in Yokohama, Japan November 22, 2018. REUTERS / Toru Hanai

The Franco-Japanese league, has expanded in 2016 to include Japan Mitsubishi Motors (7211.T), has been pledged by his arrest by Ghosn in Japan on Monday, with the chairman of the 64-year-old group and the star of the industry being accused of financial misconduct.

Ghosn was in the league's shape and pressed for deeper ties, including the possible merger of Renault-Nissan in the French government, despite strong suspicions in the Japanese company.

Japanese prosecutors reported that Gosn and Greg Kelly's Representative Director, who have also been arrested, have assembled to compensate for a Toll under the fund in Nissan over five years of 2010, saying he was about half a billion billion yen.

The Nissan board meeting will be held sometime after 4:00 p.m. (0700 GMT) at its headquarters in Yokohama and the company is likely to announce a statement, one senior Nissan officer told correspondents on Wednesday, asking for anonymous because the details were confidential.

Renault operators are expected to join a video conference.

Japanese media said, given that the composition of the Nissan board is approved by Gosn is approved.

Nissan operators have five seats on the nine-member board, Renault seats have two seats and the remaining two are kept by outside directors, a former bureaucrat and racist driver.

With Ghosn and Kelly still being detained, the men will not be able to vote or defend themselves at the meeting. A majority vote by the other seven board members will be sufficient to cancel their posts.

Renault has refrained from firing Ghosn as chairman and CEO, although he continues to be retained with Kelly, who Nissan is also accused of financial misconduct.

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But Mitsubishi Motors intends to eradicate his role as chairman at a next meeting board meeting.

During an increasing uncertainty about the future of the league, the minister of the Japan industry and the French finance minister will meet in Paris on Thursday to seek ways to stabilize.

"For me, the future of the league is the bigger deal," said Nissan's officer, when asked for a Ghosn arrest. "It is clear that we need to do things together in this age. Partially impossible."


Nissan said Monday that an internal investigation caused by a councilor revealed that Gosn was taking on abuse including personal use of company money and reporting his earnings for years.

Ghosn and Kelly have not commented on the allegations and Reuters have not been able to reach them.

Ghosn is being held at the Tokyo Exclusion House, which reported that Nikkei's newspaper, which faces a huge order, is quite a bit of a normal luxury lifestyle, including sleeping restrictions during the a day and a requirement to wear a mask when meeting visitors to prevent the spread of disease.

The housekeeper "is quite cool right now," said the internet entrepreneur and guilty dealer, Takufumi Horie, to his followers on Twitter.

Asahi Shimbun said on Thursday, quoting unnamed sources, that Ghosn had given Kelly orders by e-mail to make incorrect statements on his remuneration. Tokyo prosecutors were likely to take advantage of the associated emails and they can use them as evidence, the report said.

Yomiuri, the largest circulation of Japan found daily, unknown sources stating that Nissan's internal investigation had found that Gosn had instructed 2002 to pay his eldest sister about $ 100,000 a year as a charge for an advisory role that did not exist.

The paper says that Nissan had found through the investigation that the sister of Gosn had actually been living and managing a luxury apartment in Rio de Janeiro that the company had bought through a foreign subsidiary, but had not done any counseling work to the car maker. Nissan has shared the information with prosecutors, says Yomiuri.

Shareholders in Nissan closed by 0.8 per cent, according to a wider market. N225, before the board meeting.

Reported by Maki Shiraki, Sam Nussey and Chang Ran Kim; Writing by Ritsuko Ando; Edited by Muralikumar Anantharaman

Our Standards:Principles of the Thomson Reuters Trust.
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