Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him

Renault-Nissan-Mitsubishi’s CEO Carlos Ghosn has been arrested in Japan on charges of not reporting his full compensation, along with Representative Director Greg Kelly.

Nissan has confirmed that they’re performing an internal investigation that involves both Ghosn and Kelly for many years based on a whistleblower report.

Local media say that Ghosn is accused of not reporting around $44 million (5 billion yen) of income in the course of 5 years, along with other violations of Japan’s financial laws.

Nissan is getting ready to oust Ghosn and Kelly at a board meeting, with the automaker to hold a press briefing in Tokyo later today.

“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,” said Nissan in a statement.

“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.”

“Nissan’s Chief Executive Officer Hiroto Saikawa will propose to the Nissan Board of Directors to promptly remove Ghosn from his positions as Chairman and Representative Director. Saikawa will also propose the removal of Greg Kelly from his position as Representative Director.”

  • Craig

    I assume this is still at the accusation stage – so I’ll refrain from making any conclusions. But wow. I read somewhere that the love of money is the root of all evil. And ain’t that the truth.

    • Bash

      Yes indeed.

    • Rocket

      The investigation, started months ago, has already confirmed his wrongdoings. He’s out.

    • atomicbri

      I was thinking the same thing. It is the root of greed and evil.

    • LJ

      Money is an inanimate object. The root of all evil is the absence of morals and lack of self-control.

    • Blanka Li

      You’re remembering 1 Timothy 6:10 in the New Testament of the Christian bible.

    • Loquacious Borborygmus

      I heard it was human nature.

    • alexxx

      Really?! Money,you say…. And before money even existed,what was then root of all evil?
      Evil doesn’t exist,it’s just another word for ignorance and lack of conscience.
      Money just showes the real human nature…

      • Craig

        Did I trigger your hatred of God? Bug off

  • BlackPegasus

    Wow this is stunning news.

  • Trackhacker

    His face always annoyed me.

    • Knotmyrealname

      Eh??? And……?

    • blunt-o

      Are you really that stupid?

  • charlotteharry57

    It seems that Nissan wanted him out and found a way. Can’t say I’d be upset if Renault exited the Nissan picture. Wondering where this leaves poor Mitsubishi?

    • designer_dick

      Renault will never exit the Nissan picture. They own 43% of the company and majority voting rights, so there’s no way for Nissan to get rid of them.

    • krusshall

      Yes Nissan operatives conspired to put $44 million into Ghosn’s hands over the last five years so they could take him down and watch their company lose 10%-13% in valuation and destabilize the entire company just so they could get Ghosn out who only planned to work a few more years.

  • Hmmm, very shocking and suspicious. Looks like they fabricated some violations to get company back into Japanese hands. Upside down world today.

    • LJ

      Based on what evidence?

      • What evidence do you have that he’s guilty? These are only charges, yet to be proven in court. Are you the whistleblower they’re talking about? Do you have some evidence that you would like to share with the internets?

        • LJ

          I didn’t say he was guilty.

    • krusshall

      Sure, fabricated 44 million violations and in the process were okay with the collateral damage of 10%-13% lost company valuations along with the stability of the entire company just so they could get Ghosn out and put a Japanese person in his place.

  • AND WE WONDER WHY CARS ARE SO EXPENSIVE THESE DAYS.

  • sigma7777777

    If he goes out, I’ll stop buying Nissan cars now.

    • Ben

      Oh noes!!!

  • Alex

    This guy is responsible for turning Renault into Dacia in my country. Good riddance.

  • Classic Bob

    Oh my Ghosn!
    Another day of reckoning for corrupted CEOs. Wonder who’s next?

    • Bo Hanan

      He’s fricken CEO of 5 car companies! Must he be so damn greedy?

  • U8INIT

    Crime is a result of negative emotion….so I’m really curious on how this will develop.

  • Six_Tymes

    bye bye Nissan share price… share prices might not drop right away, might take many months. But IF the charges stick and he gets replaced, Nissan wont be the same ever again, no one will ever be as good as Carlos Ghosn at the helm.

    • But was he really good for Nissan? With all cost cutting, Nissan has been turning out unreliable junk since the Renault merger.

      • He saved Nissan, it was a sinking ship with no crew on board… no worst there was a crew, but doing nothing.

  • Craig

    You jackass.

    • alexxx

      Hahaha
      You are a good person.
      Always a pleasure to chat with you.

  • SteersUright

    Why are the rich so intent on not contributing back to society. Maybe its because I work in anti-financial crime sector, but I find it utterly repulsive. Sure, no government is perfect at spending tax dollars, but there would be no modern Japan or USA for that matter without everyone paying their fair share. Ultimately the tax burden always falls on those who aren’t sophisticated enough to evade them like the rich can.

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