Nissan, Mitsubishi executives exit as Ghosn empire is dismantled

15 Mars, 2019, 16:11 | Auteur: Auguste Feret
  • Nissan, Renault and Mitsubishi pledge new start

Ghosn is facing two charges of under-reporting his remuneration in Nissan's securities reports and another allegation of aggravated breach of trust.

However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance.

Ghosn, who has not spoken to media since his release, put in a request with a Tokyo court on Monday to attend Nissan's board meeting, but he was refused permission.

Senard also announced he would "not be seeking" to replace Ghosn as head of Nissan but would be a "clear candidate" to be vice-president of the Japanese auto giant.

Nissan is considering naming Sadayuki Sakakibara, former chairman of the Japan Business Federation and co-chair of a Nissan government committee, as the chief of the board.

For his part, current Nissan boss Hiroto Saikawa said the new board represented "a true partnership on equal footing".

The notice did not give specifics, but sources familiar with the investigation have pointed to fancy homes in Lebanon and Brazil, as well as expensive furnishings such as a chandelier.

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The new body will purportedly allow the alliance to cooperate more efficiently, effectively and on a consensual basis, Senard said, adding that the shift in leadership structure would allow the alliance to better respond to changes in the automotive industry, such as the growing popularity of electric vehicles.

He was granted bail last week at the third time of asking, with bail set at 1 billion yen (9 million US dollars) and released under the provisos that he will not leave Japan and remain under limited video surveillance at the entrance to his residence.

The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court. He has been let out on bail under conditions that he should remain in Japan and should not destroy evidence.

The other charge relates to an alleged attempt to pass off personal investment losses onto Nissan's books and then paying from company funds a Saudi contact who had previously stumped up collateral for him.

Mr Ghosn also handpicked former Nissan executives Mitsuhiko Yamashita and Vincent Cobee to help him rebuild Mitsubishi after its fuel-efficiency scandal. Mann, who was Munoz's predecessor at Nissan, was sent to Mitsubishi in 2016 after Nissan took a stake in the carmaker.

Ghosn's dramatic arrest in November has caused concerns about the future of the three-way alliance, the world's largest maker of automobiles excluding heavy trucks.

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