Nissan fails to agree on Ghosn replacement

Business 12/17/2018, 11:50 AM
Nissan fails to agree on Ghosn replacement

Nissan Motor Co. Ltd. board of directors failed to agree who would replace the ousted chairman Carlos Ghosn, AFP reported on Monday. The reason for the lack of agreement was Nissan's alleged conflict with alliance partner Renault SA. The board meeting was called solely for the purpose of discussing Ghosn's future replacement after his arrest on the grounds of financial misconduct.

Earlier, Renault deputy CEO Thierry Bollore urged for a Nissan shareholder meeting over Renault's representation in the Japanese company's management. Renault owns a 44% controlling stake in Nissan. The French auto industry giant stated last week that its audit determined Ghosn's pay package was in compliance with the law.

Last week, Ghosn's representatives reportedly took the former executive's documents from a corporate apartment in Rio de Janeiro, after a permission to do so by a Brazilian court. The documents possibly contained evidence against Ghosn.

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