December 12, 2024 15:42 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
India's D Gukesh becomes youngest ever world champion in chess | Devendra Fadnavis meets PM Modi amid suspense over Maharashtra portfolio allocation | Congress wants to deviate the issue of Sonia Gandhi-George Soros link: JP Nadda | Bengaluru techie suicide: Atul Subhash's family demanded Rs. 10 lakh as dowry leading to my father's death, claims estranged wife | Syria rebels torch tomb of ousted president Bashar al-Assad's father | Donald Trump vows to eliminate birthright citizenship after taking charge | No alliance with Congress in Delhi polls: AAP chief Arvind Kejriwal | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | INDIA bloc to knock on Supreme Court's doors over alleged EVM manipulation during Maharashtra polls
Wikimedia Commons

Nissan chairman Carlos Ghosn arrested over 'misconduct'

| @indiablooms | Nov 19, 2018, at 10:53 pm

Tokyo, Nov 19 (IBNS): In a significant development, automaker Nissan's chairman Carlos Ghosn has been arrested over claims of financial misconduct, reports said on Monday.

Japanese automobile giant Nissan on Monday said it has decided to remove the company's Representative Director and Chairman Carlos Ghosn from his position.

Ghosn is considered a major figure in the global automobile industry.

"Based on a whistleblower report, Nissan Motor Co., Ltd. (Nissan) has been conducting an internal investigation over the past several months regarding misconduct involving the company’s Representative Director and Chairman Carlos Ghosn and Representative Director Greg Kelly," the company said in a statement.

Nissan further elaborated on the charges against Ghosn and said: "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."

The company said, "In regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement has also been confirmed."

Nissan said it has been providing information to the Japanese Public Prosecutors Office and has been 'fully cooperating' with their investigation.

"We will continue to do so," the company added.

As the misconduct uncovered through the internal investigation indicates clear violations of the duty of care as directors, Nissan’s Chief Executive Officer Hiroto Saikawa will propose to the Nissan Board of Directors to promptly remove Ghosn from his positions as Chairman and Representative Director.

Saikawa will also propose the removal of Greg Kelly from his position as Representative Director, the company said.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.