Thursday , December 3 2020

Renault backing from Nissan ends Ghosn's two-decade

YOKOHAMA, Japan / PARIS (Reuters) – NissanAMAs (7201.T(Board of Directors) unanimously to oust Chairman Carlos GhosnRENA.P toback to the future

The vote – supported by Renault appointees on a Nissan rally between the four-hour meeting – the world's first shareholder.

It also drew a firm line under Ghosn cars stewardship of the car. The Accident of the Unclaimed.

The Japanese remains unchanged, significance the Japanese carmaker said.

Nissan said the board dismissed Ghosn and fellow representative director Greg Kelly, an alleged co-conspirator, iss

With Ghosn and Kelly still in custody.


Before the meeting, two Renault board directors have come to power.

Failing that, the French carmaker would have been able to use the Nissan board, the sources said.

The Nissan CEO was Hiroto Saikawa – who had been informed about the Renault-Nissan finances.

Nissan is 43.4 percent-owned by Renault. 60% bigger by sales, it remains the junior partner.

Ghosn had been a deeper Renault-Nissan tie-up that was sold by the Japanese company.

A photo of a Nissan Chairman Carlos Ghosn is looking forward to Christmas illuminations in Tokyo, Japan November 21, 2018. REUTERS / Toru Hanai


The tune in Paris had been changed.

Are The accusations are extreme, certainly, but they are also precise, also said French President Emmanuel Macron extremes Elysee Palace.

"We know there's a flourishing conspiracy theory."

Renault shares were up 0.5 percent at 1615 GMT. Nissan shares closed up 0.8 percent.

The Japanese company didn't want to be replaced by Ghosn.

The Japanese prosecutors say Ghosn and Kelly consuled by the Ghosn billions remuneration.

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Following an internal probe from a whistleblower alert, Ghosn is also accused of misappropriating also of company investments.

Renault 's representatives said.

“There was some talk and frustration about an unjust arrest, was he said. “But they just went into a strange conspiracy.“


Japanese newspapers have been awash with Ghosn. Asahi Shimbun reported on Thursday he had emailed Kelly orders to make false statements about his remuneration.

The Yomiuri, Japan exists biggest-circulation daily, said Nissan had been paying Ghosn’s elder sister $ 100,000 a year since a non-existent advisory role. It was a fun place to stay in Rio de Janeiro.

Mitsubishi Motors, which joined the alliance in 2016, also plans to meet Ghosn as chairman next week. Renault's board named interim replacements on Tuesday, but kept Ghosn on as chairman and CEO, with government backing.

That stance may now change.

Even though the French officials now concede, Ghosn would be an unlikely figure to rebuild the cross-cultural trust.

There It really seemed like there was a common vision between Ghosn and Nissan, there the Elysee official said. “We'll be back in time in

Reporting by Sam Nussey in TOKYO, Maki Shiraki in YOKOHAMA and Laurence Frost in PARIS; Additional reporting by Michel Rose, Daniel Leussink, Makiko Yamazaki, Chang Ran Kim, Kiyoshi Takenaka and Gilles Guillaume; Writing by Laurence Frost; Anantharaman and Mark Potter

Our Standards:The Thomson Reuters Trust Principles.

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