Nissan board fires Ghosn as chairman following arrest

Renault's acting deputy chief executive Thierry Bollore attends a news conference about the situation with Renault at the Bercy Finance Min

Renault's acting deputy chief executive Thierry Bollore attends a news conference about the situation with Renault at the Bercy Finance Min

The Japanese car-maker says Ghosn under-reported his salary and used company assets for personal use. But Ghosn's former protege has been the most outspoken in his dismissal of his boss, saying the findings leave no conclusion other than to dismiss the star executive. But its future has now been cast into doubt after he was arrested in Japan, ousted as chairman of Nissan and Mitsubishi, and sidelined at Renault.

Ghosn is being held custody in a Tokyo detention centre and has not been seen in public or made any comments since his arrest. The company dismissed Ghosn and Kelly on Thursday.


Bollore on Thursday pledged "to stay focused on our mission to preserve the interests of Renault and the sustainability of the alliance". Acknowledging the "particular situation" the company is in, he pledged his "full commitment" to Renault's 180,000 workers and its partners and customers. Renault owns a 43 percent voting stake in Nissan, which owns 15 percent of Renault - and no voting rights.

In a joint statement, Bruno Le Maire and Hiroshige Seko said they both wanted "to maintain this winning cooperation". He is credited with being responsible for forming the Renault-Nissan Alliance and for taking strong measures to help turn around Renault.


The head of the Alliance Renault-Nissan-Mitsubishi-Carlos Ghosn, arrested by the Tokyo district public Prosecutor on November 19 at the Haneda airport, shortly after landing. The probe has been orchestrated by Nissan as it covers alleged financial transgressions principally tied to Japan, and Nissan CEO Hiroto Saikawa has emerged as a driving force behind the investigation.

Prosecutors allege Ghosn and Kelly collaborated to understate Ghosn's income by about 5 billion yen ($44 million) over a five-year period ending in March 2015. The board of directors will propose nominations for Ghosn's replacement. The seven other board members voted at the meeting, including two members from Nissan and two from Renault. The decision was then taken by show of hands, four votes enough to oust Carlos Ghosn. No date has been set yet for a shareholders meeting. Prosecutors from the Japanese tax department have already raided the Nissan's Yokohama headquarters while the Renault board is expected to meet soon to decide Mr. Ghosn's future in their firm.


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