Monday , January 25 2021

Renault boss arrested in Tokyo. What happens to the owner of Dacia. French President's Reaction



According to NHK, Renault Nissan Mitsubishi Motors CEO Renault Nissan Mitsubishi Motors was arrested on Monday, after the former Ghosn was accused of violations of the Japanese manufacturer Nissan Motor Co, reports AFP.

"Tokyo Prosecutors arrest Carlos Gonn, suspected of violating financial laws"according to NHK, depending on the situation Agerpres,

The information was also confirmed in the Yomiuri newspaper.

Earlier, the Japanese automaker Nissan Motor Co held a press conference at its headquarters in Yokohama, on the outskirts of Tokyo, on the occasion of informing President Carlos Ghosn, the chairman of the board,for many years "The indicated tax receipts are lower than the real value.

According to the results of the internal investigation, “Other violations were discovered, such as using company assets for personal purposes”, said the Japanese automaker, adding that he would propose that the Board of Directors dismiss Carlos Gonn "As soon as possible".

Nissan said that he provided information to prosecutors and cooperated with them during their investigation.

Shares of the French automaker Renault on Monday fell by almost 5% after the outbreak. At about 10:30 local time (9:30 GMT) on the Paris Stock Exchange, Renault shares fell 4.81% to 61.40 euros on the market 0.55%.

What happened to Renault. Emmanuel Macron Reaction

France will do everything possible to maintain the stability of Renault and its alliance with Nissan, said President Emmanuel Macron on Monday after Nissan auto maker Nissan accused Carlos Gonna of violating financial laws.

“It is too early to comment on the accuracy of the allegations, I still do not have much information. However, as a shareholder (Renault), the French government will remain extremely vigilant about the stability of the alliance, the Renault group and its employees, who enjoy the full support of the state ", said Emmanuel Macron at a joint conference in Brussels with Belgian Prime Minister Charles Michel.

The French state has a 15% stake in Renault, in turn, owns a 43.4% stake in Nissan.

In June of this year, the annual general meeting of shareholders of Renault, which also approved the new four-year mandate for Carlos Gonn, was 56 percent in favor of 7.4 million euros payable to Ghosn last year, which adds 9.2 million euros, which Carlos Ghosn received as president of Nissan.

At the age of 64, French-Brazilian Carlos Ghosn arrived in Tokyo in the spring of 1999 to rebuild Nissan, which had just established a partnership with Renault, and in April 2017 he left the general manager of a Japanese automaker, but he retained the post of chairman of the board of directors. From this position, Carlos Ghosn received a reward for April 2016-2017. With approximately 1.1 billion yen (8.8 million euros at the time).

Under the leadership of the French group Renault in 2005, Carlos Ghosn achieved shareholders' confidence thanks to the results he achieved with both Renault and the Japanese partner Nissan. "The leader is first of all the one who generates productivity ", said Carlos Ghosn.

The Renault-Nissan Alliance, which expanded in 2016, including the Mitsubishi, became the world's largest automaker with 10.6 million units last year, more than Volkswagen and Toyota.

Under the leadership of Carlos Gonna, the Renault-Nissan alliance was financially consolidated and was the first group to consistently invest in electric cars, therefore, it is currently the world leader in this segment. After the initial Renault-Nissan alliance was ridiculed for investing in electric cars, recent competition began to follow suit, so the market has risen.

As Chief Executive Officer of Renault-Nissan-Mitsubishi Motors, as well as President of the General Renault and President of Nissan and Mitsubishi Carlos Gons is the key vote, which provides balance in the expanded group. Ghosn managed to combine a different management style that takes into account cultural differences so that the alliance can achieve economies of scale comparable to the scale of an integrated society.

Currently, the Alliance unites 10 car brands (including Dacia, Lada, Samsung Motors, Alpine, Infiniti, Datsun, etc.) With 470,000 employees and 122 factories on all continents.

However, the work of this complex ensemble, based on cross-participation, participation in majority participation, calls into question its viability over the Ghosn era.

Known as the “cost killer”, Ghosn has gained a reputation for turning bankrupt companies into very profitable companies. This French-Libyan-Brazilian has traveled the world since his birth. Its route between Brazil, Lebanon, France, USA and Japan turned it into a multilingual one, able to quickly move from one culture to another.

A polytechnic graduate student, this father with four children, born in Brazil from a Lebanese family, Ghosn began his career at Michelin, where he rose to the hierarchical scale to the second position. In 1996, he was recruited into Renault by the then general manager Louis Schweitzer, who appointed him as his successor.

Dacia was intercepted by Renault in 1999. In 2004, when it was launched from Logan, Dacia became a famous player in the European automotive market.



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