Sunday , July 25 2021

Carlos Ghosn … Is it because he opposes US sanctions against Iran?



Yesterday, Nissan Motor Chairman Carlos Ghosn was arrested on charges of financial violations and is expected to be dismissed from the council this week.

This is a dramatic departure for a prominent figure present who is credited with extracting Japanese carmakers from the brink of bankruptcy.

The French-born Brazilian is the chairman of Renault, Nissan's partner from France, and his chief executive, and one of the most prominent figures in the automotive industry on the world stage. His arrest raises questions about the future of the alliance.

Internal investigations concluded that Ghosn was involved in committing violations, including personal use of company money and not disclosing all the money he had received for years.

Renault has 43.4 percent of Nissan, while Nissan has a Renault 15 percent.

The news about the arrest of Ghosn, who is also chairman of Renault, Nissan Nissan partners and chief executive also raises questions about the timing of the move. The 64-year-old car sector leader is famous for restructuring Renault and Nissan. Since the 1990s, he has been credited with lifting car makers from the brink of bankruptcy and helping him turn to profit making, making him one of the rarest foreign executives in Japan.

Ghosn challenged Washington during the summer, saying that Renault would not end its presence in Iran, despite imposing sanctions by the United States on the Islamic Republic.

But if we have to limit our activities, we will have a limited existence because we believe that … this market will reopen at some point and that our survival in Iran will definitely give us preference, "he told shareholders at the Assembly meeting General of Paris.

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