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Nissan fires Ghosn, Kelly after misconduct allegations

Third and final call: Nissan Motor Company has formally removed Carlos Ghosn from his position as chairman of the board after the board of directors reviewed a detailed report of the internal investigation into his alleged financial misconduct.

Board of directors meet to make Ghosn, Kelly dismissal from Nissan official

23 Nov 2018

NISSAN Motor Company’s board of directors has officially removed Carlos Ghosn from his role as chairman of the board and representative director, along with Greg Kelly, days after their arrest for suspected financial misconduct.
According to the Japanese brand, the decision was unanimous after the board of directors evaluated “a detailed report” of the internal whistleblower investigation that has been underway for several years.
In the same meeting, the board of directors also appointed three independent directors – Masakazu Toyoda, Keiko Ihara and Jean-Baptiste Duzan – to lead the creation of a committee to oversee better governance of director compensation to prevent any future wrongdoing.
The independent directors will also suggest Mr Ghosn’s successor to Nissan’s board of directors.
In a statement, Nissan “confirmed that the long-standing alliance partnership with Renault remains unchanged and that the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the alliance partners”.
Meanwhile, Mitsubishi Motors Corporation (MMC) confirmed it has proposed to its board of directors the removal of Mr Ghosn as the brand’s chairman of the board and representative director in light of the allegations.
MMC will conduct its own internal investigation into the Nissan’s claims of Mr Ghosn underreporting his income and misuse of company investments and assets.
However, while Nissan has decisively removed Mr Ghosn from the company and Mitsubishi have stated its intention to do so, the final alliance partner Renault has decided to wait for evidence on the allegations before making a decision.
As previously reported, Thierry Bolloré has been promoted to Reanult Groupe deputy CEO while the investigation into Mr Ghosn’s supposed misconduct is carried out.
Mr Ghosn currently remains chairman and CEO of Renault Group.
In a video released overnight, Mr Bolloré said the focus for the French brand is to maintain the relationships with its alliance partners and suppliers.
“I will make sure we guarantee our stability and stay focused on our missions to preserve the interests of Groupe Renault and the sustainability of the alliance,” he said.
“Our priorities are clear: we continue to work, in collaboration with our partners including our suppliers, to ensure the satisfaction of our customers.”
In the same video, Mr Bolloré also stressed the continuation of Renault’s work and future plans, revealing the new-generation Clio light hatchback will go on sale in Europe early next year and that employees around the world “can count on my full commitment”.

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