France Wants To Remove Carlos Ghosn As Renault Head After His Misconduct


Following the arrest of Carlos Ghosn and allegations of serious misconduct, France’s finance minister says he no longer wants the automotive executive to lead Renault.

Speaking to the media in the wake of claims leveled against Ghosn, Bruno Le Maire said he is “no longer in a position” to lead Renault, BBC News reports. France has a 15 per cent stake in the local car manufacturer.

The Renault board will meet today to discuss a potential replacement for Ghosn as chief executive. According to Le Maire, Renault chief operating officer Thierry Bollore may be called to step up.

“We need to have an interim management structure in place as quickly as possible,” Mr Le Maire said.

It was revealed yesterday that Carlos Ghosn had been arrested in Japan on charges of not reporting his full compensation. Local media claims that he failed to report around $44 million (5 billion yen) of income over the past five years while also violating a selection of other financial laws in Japan. Representative Director Grey Kelly is being accused of also under-reporting his income.

“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,” a statement from Nissan revealed.

Ghosn is the chairman of both Nissan and Mitsubishi but the two carmakers are moving to swiftly remove him from his posts.

Word of Ghosn’s misconduct came to light after an internal investigation, prompted by a whistleblower, was conducted by Nissan.

more photos...
  • Mind Synthetic

    glad to see he is gone, now if only Nissan can get Renault’s claws clipped. Perhaps then they will be able to make decent cars again.

    • alexxx


  • Mr. EP9

    Yeah, he’s going to be out of a job shortly before Thanksgiving, if not the following week. He’s screwed.

    • annon

      with all his “earnings” probably stashed all over the globe, think that’s the least of his worries. In all honesty though, I did admire him for what he’d accomplished for the Nissan brand

      • Mr. EP9

        Yeah, he did do a lot for them. It’s just a shame that his name will be dragged through the mud because of this.

        • annon


  • Six_Tymes

    certainly was one of the best leaders in the car industry. glad I do not own Nissan shares now

    • BGM

      The best. This guy remade Nissan into something that people – me – actually want to buy. But he got greedy…

  • SteersUright

    So happy to see financial corruption addressed publicly, properly and uprooted from European and Asian corporate culture to the extent possible.

  • Ary Wisesa

    My my… how greed ruined one of the best leaders in auto industry. I mean, he’s already very wealthy, why on earth he’s tempted to break the law and throw himself from the respectful position to jail?

  • Seems every “great man” that can take Failing companies to the top have big issues not making them so great anymore. He surely made a lot of enemies especialy in Japan when he came to Nissan, saving the brand cost a lot of jobs and the loss of traditions. I sure a lot of people are happy to take him down.

    • MarketAndChurch


  • MarketAndChurch

    FCA should take him. I believe he will turn FCA around.

California And 22 Other States Sue U.S. Government Over Auto Emissions Standards

The war between the Trump administration, who revoked states’ rights to set their own standards, and state officials is escalating.

Mercedes Is Asking $53k For 22,000-Mile 1982 S-Class In Showroom Condition

Currently residing at the Mercedes-Benz Museum, this classic S-Class has undergone a thorough restoration by the company itself and is accompanied by all documents and invoices .

2020 Opel/Vauxhall Astra Leaves A Good Chunk Of Its GM Legacy Behind

The styling changes are minor, but the revamped Astra gets an all-new, PSA-derived engine lineup that should help it keep up with its rivals.

Toyota Land Cruiser Celebrates 10 Million Units Sold Since 1951

Toyota’s iconic off-roader has been on sale for 68 years now, with the latest generation being available in 170 markets worldwide.

VW T-Roc Gains 187 HP Diesel, Two New Design Packs In Europe

Apart from the new range-topping diesel engine, VW’s compact SUV is now also available with a Black Style and Beats package .

Jaguar Insists It’s Committed To Keep Making Sedans And Sports Cars

Jag will build next-generation models of the XJ, XE and XF, in all likelihood with electrified powertrains, and won’t become an SUV-only brand.

Renault Pondering Whether The 454 HP Zoe e-Sport EV Hyper Hatch Is Feasible

Launched as a concept more than two years ago with a dual electric motor set up, it can hit 62 mph from a standstill in just 3.2 seconds.

128 HP Opel Corsa GS Line Somehow Flew Under The Radar In Frankfurt

The GS Line is a warm hatch that packs a turbocharged three-pot and is billed as the spiritual successor to the first-gen GSi.

FCA Promises Fixed UK Prices On Post-Brexit Deliveries – On One Condition

No matter the outcome of the Brexit, Fiat Chrysler will guarantee prices across its range remains the same as long as you’ve placed your order until October 31 .

No, This Backwards-Facing Pickup Isn’t Really Driving In Reverse

This Chevrolet pickup somehow passed all safety inspections in Massachusetts and is totally road legal.