Saturday , May 8 2021

Nissan dismissed his President Carlos Ghosn after his arrest

Nissan dismissed his president Carlos Ghosn after nearly two decades of office in the Japanese company due to serious allegations of abuse, including bogus income statements and misuse of company assets.

During a meeting that lasted for an hour, the board of directors voted unanimously to shoot Ghosn and his deputy director, Nissan Motor Co., said in a statement.

Days earlier his ally, Renault has voted to hold him as CEO, but has appointed Operations Director Thierry Bollor as interim chief.

Greg Kelly, who is arrested on suspicion of being an accomplice to the crime, will also be fired as a director, Nissan said. The replacement will be decided later, he added.

It is assumed that Ghosn has not reported revenue of $ 44.6 million from 2011 to 2015, according to Tokyo prosecutors.

The board of directors is made up of nine members, including Gon and Kelly. The other seven voted at the meeting, including two Nissan members and two Renault.

So far, Gon and Kelly will remain on board, as this decision depends on the shareholders. No date given for this appointment.

Ghoh, a 64-year-old, is also president of Mitsubishi Motors Corp., a smaller Japanese automaker that will be a partner of the Renault-Nissan airline. The company said it would schedule a council meeting next week.

Ever since they were arrested on Monday, Gon and Kelly were in a Tokyo detention center.

Under Japanese law, suspects can be detained for 20 days for a possible charge without a formal charge. Additional charges can be made, resulting in a longer arrest. So far no one has been charged.

If convicted, the maximum penalty for financial fraud and violation of commercial laws is 10 years in prison, a fine of 10 million yen ($ 89,000), or both.

A French citizen born in Brazil, Ghosn became a corporate superstar in Japan, leading Nissan to a rise after it was near bankruptcy when Renault sent him to help him in 1999.

Kelly, 62, joins Nissan in the United States in 1988. She joined the board in 2012. Her profile is in the management of human resources and the alliance.


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