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Stock impact report

Nissan plans to fire Chairman Carlos Ghosn after his sudden arrest [Los Angeles Times (CA)]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Nissan plans to fire Chairman Carlos Ghosn after his sudden arrest Nissan Motor Co. will remove Carlos Ghosn as chairman after he was arrested in Tokyo on suspicion of violating financial laws, throwing the auto industry’s largest global alliance into turmoil. Ghosn, a towering figure who saved Nissan from collapse and brought it together with Renault SA and Mitsubishi Motors Corp., was detained Monday in Tokyo over the suspected breach of Japanese financial laws, Nissan Chief Executive Hiroto Saikawa told reporters in Yokohama, Japan. Ghosn and Director Greg Kelly have been under investigation at Nissan for several months, and the board is set to meet Thursday to remove them both. Both Ghosn and Kelly were reporting compensation to securities regulators in Tokyo that was less than the actual amount, Nissan said, adding that they did this to reduce Ghosn’s disclosed compensation. Regarding Ghosn, “numerous other significant acts of misconduct have been uncovered — such as personal use Show less Read more
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