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Nissan to fire Ghosn over financial misconduct allegations

2018-11-19 15:42
Nissan Motor Co Ltd said on Monday (November 19) it planned to oust Chairman Carlos Ghosn after alleging he had used company money for personal use and committed other serious acts of misconduct. Japanese media reported that Ghosn, who is also chairman and chief executive of Nissan's French partner Renault and one of the best known figures in the global car industry, had been arrested. The Japanese automaker said that based on a whistleblower report, it had been investigating possible improper practices by Ghosn and Representative Director Greg Kelly for several months, and that it was fully cooperating with investigators. Neither Ghosn nor Kelly could be reached for comment. Ousting Ghosn, 64, is bound to raise questions about the future of the alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. The reports came as a shock in Japan where Ghosn, a rare foreign top executive, is well regarded for having turned Nissan around from near bankruptcy.