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Business News

Nissan meets to replace chairman Ghosn


Wednesday, December 19, 2018

Tokyo: The board of automaker Nissan was meeting on Monday to discuss a replacement for former chairman Carlos Ghosn after his arrest for financial misconduct, as tensions grow in the firm’s alliance with Renault. The Japanese company removed Ghosn from his post last month after he was detained on allegations of under-reporting his salary.

But it appears unlikely to agree on a permanent replacement for him immediately, in part because of open discord with French automaker Renault. Nissan itself faces charges of allegedly submitting financial documents that understated Ghosn’s pay, and Renault is now reportedly seeking more sway on the Japanese firm’s board.