Carlos Ghosn was removed from the management of Mitsubishi

Carlos Ghosn was removed from the management of Mitsubishi

November 26, 2018 0 By autotimesnews

The decision was taken by members of the board of the brand during the 70-minute meeting.

Mitsubishi Motors followed the example of Nissan and removed Carlos Ghosn from the post of chairman of the board of directors. The decision was made after the 70-minute meeting of the board members of the brand. Osamu Masuko, president of the company, was appointed acting chairman.

November 19 at the airport in Tokyo, Carlos Ghosn was detained by prosecutors. The head of the alliance Renault-Nissan-Mitsubishi was accused of financial fraud and embezzlement. In a report published immediately after the detention of Ghosn , Nissan said that an internal investigation had confirmed the fact of the concealment of income and the misuse of funds. In case Ghosn’s guilt is proven, he faces up to 10 years in prison.

An urgently convened Nissan board of directors voted unanimously to remove Carlos Ghosn from the post of chairman of the board of directors. At the same time, the management of the company proposed the creation of a special commission that would study the issues of improving the management and control system of the reward system for the management team. The newly created advisory council was charged with nominating candidates for the position of chairman of the board.

Earlier it was reported that the arrest of Carlos Ghosn may be associated with plans to merge Renault and Nissan. According to insiders, the Nissan board sharply criticized such a reorganization, as it could strengthen the status of Renault. In turn, it proposed to create a complex system based on cross-ownership of shares within the alliance.

Despite appeals by French Minister Bruno Le Mayor to release Carlos Ghosn from the post of head of Renault, members of the board of the mark at an extraordinary meeting decided to keep all the leading posts for the detainees, but to recognize him as “temporarily incapable.”