The Japanese carmaker says it is seeking to remove Ghosn – among the most prominent car-industry leaders globally – as chairman
Nissan Motor chairman Carlos Ghosn has been arrested over suspected financial violations, the NHK reported, and the carmaker said it will seek a removal of the industry icon as its chairman after an investigation into his alleged misconduct.
Ghosn, among the most prominent auto-industry leaders globally and also the chief executive officer of Renault, was detained over a suspected breach of Japanese financial law, Japan’s national broadcaster said. Based on a whistleblower tip, Nissan has been doing an internal investigation over the past several months into suspected financial misconduct involving Ghosn and director Greg Kelly, the company said Monday. Nissan seeks to remove both Ghosn and Kelly.
“The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” Nissan said.
The company said it has been providing information to Japanese prosecutors and is cooperating fully with their investigation. Ghosn voluntarily went with Tokyo prosecutors, the Asahi newspaper reported.
Nissan is set to hold a press conference later tonight in Tokyo. A representative for the Tokyo prosecutors said they don’t comment on individual cases.
