Nissan Plans to Oust Carlos Ghosn as Chairman Over Financial Misconduct [The New York Times]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: The New York Times
TOKYO — Nissan recommended the immediate removal of its chairman, Carlos Ghosn, on Monday, saying an internal investigation found that he had underreported his compensation to the financial authorities for several years. The company said in a statement that it was cooperating with Japanese prosecutors. It also said that it had opened its inquiry after a whistle-blower alleged that Mr. Ghosn had been misrepresenting his salary as well as using company assets for personal use. It is a remarkable tumble for Mr. Ghosn, who arrived at Nissan in 1999 after Renault, the French carmaker, bought a large stake in the Japanese company. Nissan said that a board director, Greg Kelly, was also involved in the deceptions, and recommended that he be removed as director. The disclosure raised questions about Mr. Ghosn’s role as chief executive of the Renault-Nissan-Mitsubishi Alliance. Although he stepped down from the top job at Nissan last year, Mr. Ghosn, 64, has remained at the top o
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