Nissan board to meet to discuss arrested Carlos Ghosn's successor as chairman

Nissan board to meet to discuss arrested Carlos Ghosn's successor as chairman
Carlos Ghosn

Nissan's board is to pick a chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations.

Monday's meeting comes amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand, as well as highlighting shoddy governance at the manufacturer of the Leaf electric car.

Mr Ghosn and another board member Greg Kelly were formally charged last week with falsifying financial reports in underreporting Mr Ghosn's income by about five billion yen (€39 million) between 2011 and 2015.

They were arrested on November 19 by Tokyo prosecutors and remain in detention.

A source close to Mr Ghosn's family said he is innocent as the alleged income was never decided upon or paid.

Aubrey Harwell, the US lawyer for Mr Kelly, an American, says he is innocent, and that Nissan insiders and outside experts had advised him the financial reporting was proper.

The chairman must be selected from among the board members, but whether a decision will come Monday remains unclear.

Nissan Motor Co. President and Chief Executive Officer Hiroto Saikawa
Nissan Motor Co. President and Chief Executive Officer Hiroto Saikawa

Three outside board members, driver Keiko Ihara, Masakazu Toyoda, an academic, and Jean-Baptiste Duzan, formerly of Renault, are making that decision.

One candidate for chairman is Chief Executive Hiroto Saikawa, who was hand-picked by Mr Ghosn to succeed him as chief executive.

He has denounced Mr Ghosn and Mr Kelly as the "masterminds" in a scheme to falsify income reports and abuse company money and assets.

Renault has kept Mr Ghosn as chief executive and chairman, saying its investigation has not found wrongdoing in the awarding of his compensation.

PA

More on this topic

Former Japanese empress leaves hospital after cancer surgeryFormer Japanese empress leaves hospital after cancer surgery

One person killed and almost one million power failures after Typhoon Faxai hits TokyoOne person killed and almost one million power failures after Typhoon Faxai hits Tokyo

One killed, dozens hurt as typhoon batters south-westOne killed, dozens hurt as typhoon batters south-west

Nagasaki mayor hits out at nuclear powers on 74th anniversary of bombingNagasaki mayor hits out at nuclear powers on 74th anniversary of bombing

More in this Section

Ryanair shareholders lash out at Michael O’Leary pay plansRyanair shareholders lash out at Michael O’Leary pay plans

Bank warns of prolonged Brexit uncertainty as interest rates heldBank warns of prolonged Brexit uncertainty as interest rates held

Google teams up with UK regional publisher in effort to save local newsGoogle teams up with UK regional publisher in effort to save local news

Next sees price cuts in no-deal Brexit as half-year profits riseNext sees price cuts in no-deal Brexit as half-year profits rise


Lifestyle

When starting out as a comedian, Cork man Andrew Ryan decided to go to straight to London, sidestepping the usual starting ground of Irish clubs and pubs.Cork comedian Andrew Ryan is 'a cross between Ardal O’Hanlon and Ed Byrne'

Paul McLauchlan has the lowdown from London Fashion Week. Here’s all you need to know about next season.London Fashion Week: How you’ll dress for the next decade

Aileen Lee sits down with artist Valerie Walsh Jolley.Portrait of an artist: Meet Valerie Walsh Jolley

Kya deLongchamps meets the man who is opening a new chapter on his native FermoyVintage View: Opening a new chapter on Fermoy's story

More From The Irish Examiner