Categories U.S. Markets News

Tokyo court denies bail to Renault CEO Carlos Ghosn yet again

On January 22, Tuesday, a court in Tokyo rejected former Nissan boss Carlos Ghosn’s latest request for bail.

Shortly after Ghosn’s initial arrest back in November of 2018, he was ousted from the chairmanship of both Nissan and Mitsubishi. However, he remains CEO and chairman of their French partner Renault.

This new development puts pressure on Renault to find a suitable replacement for Ghosn in the company. The three-way auto alliance have been in turmoil since his arrest.

It was only a week ago that reports suggested that Carlos Ghosn might be facing a civil suit from Nissan after his arrest in Tokyo for allegedly using company funds for personal needs. He was charged with three counts of financial misconduct, and has been held at a detention center in Tokyo, Japan for almost two months.

Nissan to terminate Carlos Ghosn from chairman’s post
Carlos Ghosn, a file pic. Courtesy: Nissan official press images

ROAD TO THE AXE

Nissan has been proactive in the incarceration of Ghosn, as back in November 2018 the Japanese carmaker said that the then Chairman and CEO of the Renault-Nissan-Mitsubishi Alliance Carlos Ghosn will soon lose his post after allegations that he used company money for personal use and other acts of misconduct.

Earlier in June, when Renault shareholders approved Carlos Ghosn’s $8.5 million in compensation for 2017, they had not expected this to happen. He had also received 9.2 million euros in his final year as Nissan chief executive.

According to Nissan, it investigated what was alleged on a whistleblower report involving Ghosn and Representative Director Greg Kelly. “The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” read the Nissan statement in November.

The carmaker also said that CEO Hiroto Saikawa would push for a proposal to the Nissan board to remove both Ghosn and Kelly.

The news of misconduct then sent shockwaves since it was outed as Ghosn who was responsible for saving Nissan from near bankruptcy and turning it around.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Comments

  1. Pingback: Leandro Farland
  2. Pingback: Harassment
  3. Pingback: Career Fairs
  4. Pingback: virus C research
  5. Pingback: Credit Hour System
  6. Pingback: pannello led
  7. Pingback: kerassentials
  8. Pingback: Lampade HOOLED
  9. Pingback: fiverrearn.com
  10. Pingback: fiverrearn.com
  11. Pingback: endopump mediprime
  12. Pingback: fiverrearn.com
  13. Pingback: french terrier
  14. Pingback: SMM
  15. Pingback: viet travel
  16. Pingback: best Samsung
  17. Pingback: future university
  18. Pingback: future university
  19. Pingback: drip bucket hat
  20. Pingback: what is seo
  21. Pingback: bulldogs puppy
  22. Pingback: future university
  23. Pingback: six sigma
  24. Pingback: Piano relocation
  25. Pingback: Moving assistance
  26. Pingback: Move planning
  27. Pingback: Classic Books 500
  28. Pingback: FiverrEarn
  29. Pingback: FiverrEarn
  30. Pingback: Streamer
  31. Pingback: partners
  32. Pingback: glucotrust reviews
  33. Pingback: Political Theory
  34. Pingback: Predictions
  35. Pingback: FiverrEarn
  36. Pingback: FiverrEarn
  37. Pingback: FiverrEarn
  38. Pingback: FiverrEarn
  39. Pingback: FiverrEarn
  40. Pingback: FiverrEarn
  41. Pingback: FiverrEarn
  42. Pingback: FiverrEarn
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: web design
  47. Pingback: Situs Slot Online
  48. Pingback: Kuliah Termurah
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: cheap sex cams
  52. Pingback: fullersears.com
  53. Pingback: live sex cams
  54. Pingback: live sex cams
  55. Pingback: live sex cams
  56. Pingback: marketplace
  57. Pingback: rare breed-trigger
  58. Pingback: 늑대닷컴
  59. Pingback: Judi online
  60. Pingback: superslot
  61. Pingback: allgame
  62. Pingback: 918kiss
  63. Pingback: หวย24
  64. Pingback: Beauty tips
  65. Pingback: pg slot
  66. Pingback: cybersécurité
  67. Pingback: Raahe Guide
  68. Pingback: catskills hotel
  69. Pingback: 300 wsm ammo
  70. Pingback: SaaS Attorney
  71. Pingback: itsMasum.Com
  72. Pingback: itsMasum.Com
  73. Pingback: itsMasum.Com
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top