Shock Ghosn arrest throws motor alliance into turmoil

Carlos Ghosn, a towering figure who saved Nissan from collapse and brought it together with Renault and Mitsubishi, was detained on Monday in Tokyo over the suspected breach of Japanese financial laws

20th November, 2018
Nissan shares slump after Ghosn arrest. Pic: Getty

Japanese car maker Nissan is to remove Carlos Ghosn as chairman after he was arrested in Tokyo for violations of financial law, throwing the motor industry’s largest global alliance into turmoil.

Both Ghosn and Kelly were reporting compensation to securities regulators in Tokyo that was less than the actual amount paid, Nissan said, adding that they did this to reduce Ghosn’s disclosed compensation. Regarding Ghosn, “numerous other significant acts of misconduct have been...

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