Nissan Shareholders Want Carlos Ghosn Dismissed From Its Board

Nissan Shareholders Want Carlos Ghosn Dismissed From Its Board

Nissan Motor Co Ltd Chief Executive Hiroto Saikawa began an extraordinary shareholders' meeting on Monday by apologising for the scandal involving ousted boss Carlos Ghosn and said the issue could not be fixed overnight.

Nissan sacked Ghosn as chairman nearly immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board. The latest arrest was in connection with fresh allegations that $5 million sent by a Nissan Motor Co subsidiary and meant for an Oman dealership was diverted to a company effectively controlled by Ghosn.

He also said Nissan does "not intend to appoint a new chairman" after Ghosn.

The announcement came after Ghosn was reportedly fired as the chairman of both Nissan and Mitsubishi Motors following his arrest in December, after which he stepped down as the chairman and CEO of French carmaker Renault.

The board also kicked out Greg Kelly, a former top aide to Ghosn who has also been charged with financial wrongdoing.

Outside the Tokyo hotel where the meeting was being held, some shareholders expressed concern that the automaker's management had been in the dark for years regarding activity by Ghosn now regarded at Nissan as potentially questionable.

"Today is a key turning point for Nissan", Saikawa said.

"Economic performance and the well-being of the people at Nissan will be for me of the highest importance", Mr Senard told the meeting.

Based on the proposal and demand, Nissan plans to decide the membership of the board by a regular general shareholders' meeting to be held in June.

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Ghosn has been charged with under-reporting his Nissan salary for a decade, and of temporarily transferring personal financial losses to Nissan's books.

Ghosn's lawyers have called the latest arrest an attempt to muzzle him.

Saikawa said Nissan may claim damages against Ghosn and that he did not want to pay severance to the former chair.

Ghosn will remain in custody until April 14 after a court approved his detention. "I'm very suspicious of the situation, and most people are".

Yokohama-based Nissan, which makes the Leaf electric auto, March subcompact and Infiniti luxury models, was on the brink of bankruptcy when Renault sent Ghosn to turn it around two decades ago. Instead, a video statement will be shown on Tuesday, said Japan's Foreign Correspondent's Club.

"As a French citizen, it should be a right".

Ghosn's wife Carole Ghosn, who was with her husband in Tokyo when he was arrested last week, appealed to French President Emmanuel Macron for help.

The additional charge would likely prolong Ghosn's trial, which is expected to begin later this year, his lawyer has said, adding that loss of access to Ghosn's trial-related documents could put his client at a disadvantage in fighting his case.

She said she left for France on Friday using a different passport. "We need to fulfill the task (of improving governance) and prepare the company for our next steps, and then pass the leadership baton".

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