Renault’s Board Keeps Carlos Ghosn As CEO And Chairman

Renault’s Board of Directors will keep Carlos Ghosn as CEO and Chairman in the company, following an internal investigation concerning his compensation for the years 2015 to 2018.

The ongoing internal investigation reached a preliminary conclusion that the compensation of Carlos Ghosn from Renault was “ in compliance with applicable law”.

Renault’s lawyers presented to the Board of Directors a report on the presentation made to them by Nissan’s lawyers about the Japanese car maker’s own investigation on Ghosn.

Renault’s lawyers will continue the review and assessment of the information provided by Nissan and will provide the French car maker’s board with an update on the case. Renault’s board said that at this stage it doesn’t have information concerning Ghosn’s defence and therefore decided to maintain him as the company’s CEO and Chairman.

Nissan and Mitsubishi have already removed Ghosn from the CEO position respectively, with the former being officially charged together with Ghosn for financial misconduct by the Japanese authorities.

Ghosn was arrested on November 19 and remains in jail since then, with Japanese authorities also arresting Greg Kelly, Nissan’s former Representative Director, who’s also accused of helping Ghosn in under-reporting his compensation.

If found guilty, Carlos Ghosn could face up to 10 years in prison, as well as a fine of up to 10 million yen ($88,750). Nissan is also facing a fine of up to 700 million yen ($6.2 million) if found guilty.

  • Mr. EP9

    Speaking of which, I believe Renault told Nissan to stop trying to contact their board of directors before they met to discuss Ghosn’s future in regards to the scandal. IIRC, Renault was saying it was outside the agreed channels of communications. And now from what I know so far, Nissan was ordered to brief Renault’s lawyers instead in regards to the evidence of Ghosn’s wrongdoing.

    Anyway, whatever happens I do know this; the merger between Nissan and Renault ain’t happening now.

    • U8INIT

      Good; now maybe they can go back to making great vehicles again. Make Nissan Great Again!!!

      • Random stranger

        MAKE NISSAN BROKE AGAIN!

      • alexxx

        Just stop.Nissan was nowhere before Ghosn came and rescue the company.

        • U8INIT

          Hey I tried 🙂

        • ksegg

          I actually disagree with this.

          Prior to Ghosn I actually liked Nissan, because they weren’t all generic, plasticky, and disgusting to look at cars.

  • Romain AA

    He’s been detained in surreal conditions for weeks now. Interdiction to stand in his permanently lit cell. Obligation to sleep on his back or his side with face uncovered. No communication whatsoever with anyone except of his lawyer with whom he can only speak Japanese. And so it goes…

    The Japanese state whose motivations are so obvious does not honour itself in this

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