Based on a whistleblower report, Nissan Motor Co conducted an internal investigation over the past several months regarding misconduct involving the company’s 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.
Ghosn has now been ousted as Chairman of Nissan, with Mitsubishi following suit. All that remains is what Renault will do, as on paper at least, Ghosn remains as chairman.
Thierry Bolloré has been announced as deputy chief executive officer of Renault on a temporary basis, with the company stating that Ghosn remains in his role, even though he is ‘currently incapacitated’. Bolloré will, therefore, lead the management team of the Group, having the same powers as Ghosn.