Monday , November 30 2020

Nissan Chairman of the Board Carlos Ghosn was arrested after the Chairman of the Board

TOKYO – Nissan's board of directors unanimously voted to hand over Carlos Ghosn to his presidency on Thursday, three days after he was arrested for allegedly announcing low income to government regulators.

The vote of the Council was a relentless punishment of Mr. Ghosn, one of the most powerful leaders in the automobile industry, which saved Nissan nearly 20 years ago.

The board convened for four hours and issued a brief statement seeking to telegraph stability in the midst of a sudden leadership uprising. He emphasized that his alliance with Renault, the largest shareholder of Nissan, is a priority and that the external consultant would consider reviewing the corporate governance and the manager compensation system.

"The long-standing Alliance partnership with Renault remains unchanged and the mission is to minimize the potential impact and confusion in day-to-day cooperation with the alliance partners," the board confirmed.

From time to time, Nissan's human resources manager and the company's board member, Greg Kelly, was dismissed as a representative with Mr. Ghosn.

In a separate statement, Nissan explained that Mr. Ghosn has revealed the misconduct by misrepresentation and the misconduct involving the use of company funds for personal expenses. . Together with Carlos Ghosn, he was determined to be the main idea, un Mr. Kelly added.

Ghosn was the architect of the alliance with Renault – Mitsubishi joined in 2016 – and is known for the growth and growth of the world's largest car manufacturer. Renault, which owns 43 percent of shares in Nissan, became the main shareholder of three company alliances. This week, there were signs of tension as the epic of Mr. Ghosn's arrest.

Nissan quickly – followed by Mitsubishi – the automobile company announced the fraud investigation this week and demanded the release of Mr. Ghosn. Mitsubishi's board will meet on Monday.

With 47,000 employees in France, Renault was more cautious than its allies.

The French carmaker said Mr. Ghosn had been prosecuted by the prosecutors at a Tokyo detention center, but he remained as president and chief executive. The company chose a temporary leadership team to carry out its tasks while the investigation was underway.

French economy minister Bruno LeMaire and his Japanese counterpart, Hiroshige Seko, met in Paris on Thursday and exchanged views and information on the latest situation, the French ministry said in a statement. The French and Japanese governments reaffirmed the support of the Renault-Nissan alliance and said they wanted to continue.

Neither Mr Ghosn, nor Mr. Kelly was charged with crime. Japanese prosecutors boarded Mr. Ghosn's company jet shortly after landing at Tokyo's Haneda airport on Monday. That night, both Mr. Ghosn and Mr. Kelly were confronted by the prosecutors they asked Nissan's interrogation about, and whether or not Mr. Ghosn was indemnified by the Japanese authorities.

According to the Tokyo prosecutor's office, Mr. Ghosn and Mr. Kelly, from 2011 to 2015, reported their claims to the Japanese Ministry's office – by reducing the compensation of Ghosn to $ 5 billion ($ 44.5 million) – half of its actual earnings. Finance

On Wednesday, a Tokyo court upheld the prosecutors' request to hold Mr. Ghosn for another 10 days at a detention center in East Tokyo. Under Japanese law, prosecutors can keep the suspects in custody for up to 22 days and legally question them without a lawyer.

Speaking to reporters Thursday, deputy chief prosecutor Shin Kukimoto said the allegations against Mr. Ghosn. Mr. Kelly, who aside from being the chief executive of Nissan last year, and an American, was serious for men and investors.

Ler Managing the securities report is a serious violation, K Kukimoto said. Nokta Sustaining corporate governance is also important and this is what investors need to pay attention to “.

Mr. Kukimoto did not give further details about the investigation that would last for weeks, and the prosecutors could expand to other allegations of misdemeanor so that the suspects could be detained for longer.

The lawyers are not allowed to be present when the suspects are questioned by prosecutors in Japan. Prosecutors also have a large amount of time to question the suspects without questioning them.

Yasuyaki Takai, a former prosecutor and defense lawyer working with Takafumi Horie, the Internet suspect: internet To prove the guilt of the suspect, you have to make a thorough questioning to get the information necessary to accuse her. He was found guilty of a notorious case of violating securities laws a decade ago. ”Japanese prosecutors will not blame the suspect unless they are 100 percent confident that the suspect is guilty.“

NHK, the public broadcaster, reported that Brazil's Consulate General of Mexico João de Mendonca Lima Neto has detained Mr. Ghosn on Thursday afternoon. Now a French citizen, Mr. Ghosn was born in Brazil. Mr Lima told reporters that Mr. Ghosn felt “he looked healthy and respected Bay.

Directors said on Thursday that members of the board reviewed a "detailed report of the internal investigation" and considered their role in the scandal. The statement gave a carefully expressed promise:: to examine the creation of a special committee to seek advice from the independent third-party on the governance management system and better governance of governance compensation ver unanimously.

Three independent directors were referred to as u directing the subject Üç.

Corporate governance experts say Nissan's board of directors has several independent members. Three out of seven board members of Nissan, including Mr. Ghosn and Mr. Kelly, worked at Nissan for at least forty years and two of them for Renault's long-term veterans.

The remaining members of the board are a race car driver and a retired economy and trade ministry bureaucrat.

Un I always found it interesting that Nissan is always inside the board of directors, un said Christina Ahmadjian, a business professor at Hitotsubashi University in Tokyo.

”Generally, automobile companies have slowed in governance reform,“ he said. ”Nissan was a company run by a non-Japanese company, so it always surprised me why their administration is not more independent.“

Analysts said that Japan's corporate culture is still highly hierarchical and that clubby boards often suffer difficulties in questioning leaders, especially those who are charismatic and strong like Mr. Ghosn.

Jun Okamura, a researcher at the Institute for Global Affairs, University of Musashino, said: araştırmacı A strong government should ask people to challenge them. Mus ”The Board should not be afraid of these disputes.“

Mr. Ghosn hasn't exactly gone from Nissan yet. Although it is no longer the company's chairman, a full shareholder vote should be available to raise hands from the board of directors under Japanese corporate law.

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