Nissan Chairman Carlos Ghosn Arrested...




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ORIGINAL POST

POSTED BY Ed (20 days ago)
Nissan to fire Ghosn over alleged misconduct

Nissan Chairman Carlos Ghosn was arrested on for alleged financial misconduct and will be fired from the board this week.

https://www.reuters.com/article/us-nissan-ghosn/nissan-to-oust-ghosn-after-arrest-for-alleged-financial-misconduct-idUSKCN1NO0Q9

COMMENTS

Ed (20 days ago)
Update: As Nissan prepares to hold a press conference where it is expected to reveal more details about Ghosn's alleged financial misdeeds, a 2016 story in Town and Country magazine is making the rounds on twitter. While many avid readers of the business press might not remember, back in the fall o 2016, Carlos and his wife Carole Ghosn rented out Versailles (yes, that Versailles) for a party to celebrate their civil wedding, which had taken place earlier that year.

The party featured colorful sweets meant to evoke former French princess Marie Antoinette's "Let them eat cake."

"When you invite people to a party, they say maybe. When you invite them to Versailles, they will come," Ghosn said.

https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/2018.11.19ghosntwo.JPG

https://www.zerohedge.com/news/2018-11-19/renault-shares-crash-after-carlos-ghosn-arrested-corruption

Ed (20 days ago)
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 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.

Also, 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 has been providing information to the Japanese Public Prosecutors Office and has been fully cooperating with their investigation. We will continue to do so.

As the misconduct uncovered through our internal investigation constitutes 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.

Nissan deeply apologizes for causing great concern to our shareholders and stakeholders. We will continue our work to identify our governance and compliance issues, and to take appropriate measures.''

Ed (18 days ago)
Disgraced Nissan Chairman Bought Luxury Homes With $18 Million In Company Money

https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Nissan-startup-unit-spent-18m-on-Ghosn-s-homes-in-Rio-and-Beirut


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