Nissan shares collapsed after the arrest of Carlos Gon

Nissan shares collapsed after the arrest of Carlos Gon

November 20, 2018 0 By autotimesnews
Shares of the Japanese automaker Nissan hit 5.4% during exchange trading in Tokyo. According to Reuters, this is the lowest figure for the current year. The fall in securities comes amid the arrest in Japan of the head of the Renault-Nissan-Mitsubishi Alliance, Carlos Gon. Also during the auction fell Mitsubishi shares by 6%.

Japanese police suspect a 64-year-old top manager for tax evasion. For this, he deliberately distorted information about the amount of his own payments. Investigators began investigating a top manager after reports from an anonymous informant inside the auto concern.

In turn, Nissan formed its own special team to investigate the incident. The first results have already been transferred to the Prosecutor’s Office of Japan. The company also declared its readiness to cooperate with the investigation on all necessary issues.

In Nissan believe that a top manager is likely to leave his post in the near future. In addition to Ghosn himself, one of the members of the council, Greg Kelly, is also suspected of fraud, who also risks being dismissed.

Carlos Ghosn is one of the most famous top managers in the automotive industry. In 1999, he saved the Japanese Nissan from bankruptcy by drastically reducing costs. An alliance of Renault, Nissan and Mitsubishi was established with his direct participation, partnerships were established with Russian AvtoVAZ, German Daimler and Chinese Dongfeng.

At the same time, Ghosn has held senior positions at Renault since 1996. In 1999, Renault and Nissan became partners, and Ghosn moved to Japan, where he took the position of production director, then rose to the post of president and director general. Since 2005, he has combined the positions of the president and CEO of Renault, and in 2009 he headed the board of directors of Renault.

In 2016, Ghosn also became chairman of the board of directors of Mitsubishi, and in 2017 he transferred the authority of Nissan CEO Hiroto Saikawa, but he retained his position at the head of the board of directors.