Renault reduced severance pay to Carlos Ghosn

Renault reduced severance pay to Carlos Ghosn

February 16, 2019 0 By autotimesnews

The board of directors of the French company decided to reduce the amount of severance pay to Renault chairman Carlos Ghosn to 25 euros. If Ghosn had left the post before the scandal, he would have been expected at times a large amount.

Now, the amount of payments was calculated taking into account Ghosn’s income at Renault for the last two years. It was decided to refuse other payments. The final decision, however, will be made at a meeting of the Board of Directors, which will be held on March 15.

Renault was more loyal to Carlos Ghosn than Nissan. While the Japanese company fired Ghosn almost immediately after his arrest, Renault did not intend to dismiss its CEO until the accusations against him were confirmed. However, the company later conducted an audit, which showed that Carlos Ghosn used Renault funds for personal purposes. So, he sent to the Versailles Palace, where Ghosn’s wedding took place, a charitable donation of $ 57,000, taking this money from the Renault budget.

From November to the present, Carlos Ghosn remains in custody in Japan. He recently changed his lawyers, because a previous group of lawyers for some unknown reason refused to represent his interests.