Nissan to oust boss Carlos Ghosn due to 'serious misconduct'

Renault CEO Carlos Ghosn waits for French President Emmanuel Macron for a visit of the Renault factory in Maubeuge

Ghosn voluntarily went with Tokyo prosecutors, who are set to arrest him after questioning, the newspaper said.

The Yokohama-based company, one of the world's largest automakers, said the violations were discovered during an investigation over several months that was instigated by a whistleblower.

The newspaper claims prosecutors had begun searching the offices of Nissan's headquarters and other locations on Monday.

In addition, he is chairman and chief executive of the Renault-Nissan-Mitsubishi Motors strategic alliance. He said in September that he will continue to pare back his roles at the three individual companies, while continuing to head their alliance.

"Numerous other significant acts of misconduct" including "personal use of company assets", were also found. Nissan is to propose dismissing Mr Ghosn and board member Greg Kelly at a board meeting, according to Japan's NHK.

Would like to learn Kareena’s professionalism, says Sara Ali Khan
Saif Ali Khan's daughter, Sara Ali Khan is all set to make her Bollywood debut with Kedarnath opposite Sushant Singh Rajput. Sara explained how Saif, Kareena and her mother Amrita Singh never concealed anything about their dynamics.

'Lost' 90-year-old Disney film found in Japan
Despite creating the character - complete with oversized ears and a button nose - Disney lost the rights to another company. As BBC reported , Oswald was created by Walt Disney and Ub Iweks for Universal before they created Mickey Mouse .

Sony Celebrates Five Years of PlayStation 4
Note that the deal is only valid to US addresses, so if you're in other regions you're better off with the PSN deal. It includes a jet-black 1TB PS4 system, a matching DualShock 4 wireless controller, and Call of Duty: Black Ops 4 .

Renault shares fell as much as 14.4 per cent in Paris on Monday, the lowest in nearly four years in the wake of the scandal, while Nissan shed 0.45 per cent to ¥1005.5 (Dh32.78) at market close in Japan. Nissan's German-listed securities plunged 12 percent. Spokesmen for Renault and the Renault-Nissan-Mitsubishi alliance did not immediately return calls and messages seeking comment. "It is likely to have a negative impact on its brand image", he told AFP.

Carlos Ghosn is a towering figure in the motor industry.

Brazilian-born, of Lebanese descent and a French citizen, he began his career at Michelin in France before moving on to Renault.

He served as Nissan's chief executive from 2001 until April 2017, becoming chief executive of Renault in 2005, leading the two major automakers simultaneously. The companies have worked as an alliance for nearly a two decades and Brazilian-born Mr Ghosn has led a dramatic turnaround at Nissan over the last two decades, rescuing it from near-bankruptcy. But he was expected to remain chief executive of Renault and to continue in overall charge of the Alliance for the next few years.

Ghosn has a high profile in Japan and is known as a major advocate of the country's auto sector.

Related News:



Most liked

Trump vows to visit USA troops in war zones
Responding to a question in a wide-ranging interview the US President said, "We are doing really well". But Trump, speaking to Wallace, floated another idea for handling Acosta.

Chris Morris the hero as South Africa beat Australia in truncated T20
We learnt a few lessons about the things that worked and didn't work. They need to do something about it pretty quickly.

This poor Brexit deal is bad for business, which means I'm out
With "two or three points" being changed he could support the government's proposals, he said. Austria holds the rotating European Union presidency.

Rangers trade Ryan Spooner for Ryan Strome
Spooner heads to Edmonton going through a similarly bland season as Strome with only two points of his own (one goal, one assist). In Spooner, Oilers general manager Peter Chiarelli acquires a player he selected 45 overall for the Boston Bruins in 2010clas.

Argentina lacks technology to salvage submarine wreck
It had set out in September on the latest attempt to find the San Juan , whose disappearance cost the navy's top officer his job. Macri promised a full investigation after the submarine was lost. "For us this is the start of a new chapter", he said.

Apple's New iPad Pro Sparks Another Bendgate After Folding Under Minimal Pressure
For starters, phones are a lot more compact than tablets, which means they should be a lot more durable. Then again, these devices aren't supposed to be indestructible, so pay attention to how you treat them.

May's Brexit Deal is Fatally Flawed - Former UK Brexit Minister
On the same programme, Corbyn said he did not think a second referendum is "an option we're going to get given ". Mr Corbyn also admitted he had not read all of Theresa May's Brexit agreement, saying "I've read a lot of it".

Floyd Mayweather Jr. says Tenshin Nasukawa exhibition is back on
On a more realistic level, the 41-year-old has kept the New Year's Eve exhibition fight against kickboxer Tenshin Nasukawa alive. Mayweather has a flawless record of 50-0 as a boxer, and last fought when he beat Conor McGregor in ten rounds in August 2017.

British PM heading for Brussels for talks on future ties
However, both the Irish and Dutch prime ministers said there was little scope to change the proposals. May said the week ahead would be "critical" in the Brexit talks.

Blackberry buys artificial intelligence firm Cylance for $1.4bn
BlackBerry says that the acquisition of AI-based cybersecurity firm, Cylance , will complement its entire technology portfolio. Cylance's approach to security uses mathematical models rather than signatures to detect breaches and compromises.

All Blacks vulnerable after loss to Ireland, Wallabies, Peter FitzSimons
And that's a lot of things stacked in our favour. 'Their scrum was good, it took us a while to get on top of that. I think he enjoyed a bit of banter.

Israel heading for early elections after turbulent week for Netanyahu
Opinion polls show that Netanyahu's Likud would be likely to remain the dominant party after a parliamentary election. Israel will pick a date to hold early elections on Sunday following a tumultuous week for the nation.

Harvard TD Gets Called Back After RB Gives Defense The Middle Finger
Members of the grounds crew were patching divots in the turf during most breaks, and a chunk came up on Stewart's slide. I'm just so grateful to our team that he didn't have to learn that the absolute hard way of having to live with that.

Alleged GoFundMe scammer blames con on boyfriend, homeless vet
McClure's attorney said her client was not aware of the scheme, pointing to D'Amico and Bobbitt as the real culprits. McClure and D'Amico surrendered to officials on Wednesday night and were released pending a December 24 court date.

Elton John stars in nostalgic John Lewis Christmas campaign
Speaking about the advert, John said: "The John Lewis Christmas campaign has so many warm memories for me and my family". Coincidentally, the ad arrives the same week in the United Kingdom that tickets for John's global farewell tour.