Ever since the arrest of Carlos Ghosn and Greg Kelly in Japan for financial misconduct, the scene among the three manufacturers that Ghosn had brought into an alliance – Nissan, Mitsubishi and Renault – has been chaotic at best. And it’s about to get a lot worse before it gets better. It is expected that in addition to an expected indictment against the former Alliance chairman and the former board of directors, that prosecutors are expected to actually charge Nissan as well, according to the Nikkei.
Both Ghosn and Kelly are accused of falsifying the reports of salaries that lead up to March 2015, as well as potentially the next three years’ worth of reports as well. Nissan would be facing charges of not preventing the crime. Nissan claims that they are cooperating fully with investors, and both men deny the allegations that they conspired to under-report of Ghosn’s income to the tune of about $88 million, which was required to be reported as part of securities filings, since the money would be considered a future liability against the company.
Nissan ousted Ghosn as CEO on November 22, 2018 and Mitsubishi did the same four days later. Renault has kept him in the position of CEO and chairman for the time being. How much more fallout is going to come out of this scene?
High dollar jagoff’s . Cant make as much money as they want,greedy bastards.So they have to steal it ,not earn it. Now they would fit right into politics
Read some of the financial news reports on this. Seems to be more to the story and it appears to be more of an attempt for the Japanese to regain control than theft. The plot is definitely thickening. Nissan and Mitsubishi were both in serious trouble before the merger, Renault wasn’t much better but it was keeping the other two afloat. Do you even see new Nissans or Mitsubishi’s on the road?
That’s what I think too , Japanese are Japanese , they don’t want any foreigners into their own business.
There was a PBS show, “Building the Electric Car” or something like that probably 5 or more years ago. It was extraordinary because they interviewed at length the top dogs at Ford, GM and a few other mfg’s. It is hard to convey how smart and dialed in these CEO’s were, I was stunned by their intensity, really.
And the smartest guy I thought was Ghosn.