Thursday , January 21 2021

Nissan dismisses chairman Carlos Ghosn over “serious misconduct” – live business | Business

Based on a whistleblower report, Nissan Motor Co., Ltd. (Nissan) has been conducting an internal investigation into misconduct over the past few months with the participation of the Representative Director and Chairman Carlos Gonn and the Representative Director Greg Kelly.

The investigation revealed that for many years both Ghosn and Kelly reported compensation amounts in the Tokyo Stock Exchange securities report, which were less than the actual amount to reduce the disclosed compensation amount of Carlos Ghosn.

In addition, numerous other significant violations were found in relation to Gons, such as the personal use of the company's assets, as well as Kelly’s deep involvement.

Nissan provides information to the Prosecutor’s Office of Japan and fully cooperates with their investigation. We will continue to do so.

Since the misconduct revealed during our internal investigation constitutes a clear breach of the care obligation as a director, Nissan chief executive Hiroto Saikawa will suggest that Nissan’s board immediately remove Ghosn from its position as Chairman and Representative Director. Saikawa will also propose removing Greg Kelly from his post as Representative Director.

Nissan deeply apologizes for the fact that causes serious concern to our shareholders and stakeholders. We will continue our work to identify our problems of governance and compliance, and take appropriate action.

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