Published: Sun, November 25, 2018
Sport | By Joe Gonzales

Carlos Ghosn removed as Nissan chairman

Carlos Ghosn removed as Nissan chairman

Prosecutors arrested Ghosn Monday, accusing him and fellow executive Greg Kelly of understating the former chairman's income by around five billion yen ($44 million) between June 2011 and June 2015.

In France however, authorities have been more cautious in pointing the blame at Ghosn, who has been instrumental in piecing together the auto alliance between Renault, Nissan and Mitsubishi.

Ghosn is being held custody in a Tokyo detention centre and has not been seen in public or made any comments since his arrest. In addition, the Committee is mandated to nominate candidates for the position of Chairman of the Board of Nissan Motor's Board of Directors. Mr Kelly previously worked in Mr Ghosn's chief executive office, but had no specific assignment for the last three years, according to the broadcaster. It has also led to speculation that it would lead to a tectonic shift in the world's largest automotive partnership.

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In a joint statement, Bruno Le Maire and Hiroshige Seko said they both wanted "to maintain this winning cooperation".

Nissan has always been unhappy about what it considers the outsize French role, and Saikawa made reference to that perceived imbalance at his late-night Monday press conference. Renault has chose to appoint temporary deputy chief executive to take over the running of the firm while Mitsubishi will meet next week to consider their reacting to this situation. The daily Républicain Lorrain reported that politicians, such as the former socialist minister for industry Arnaud Montebourg, suspect that Ghosn was the victim of a conspiracy aimed at halting a potential Nissan-Renault merger he had been planning, which would have given Renault an upper hand.

"Our group is perfectly organized to ensure the continuity of the company's business", Bollore said.

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