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Nissan chiefs’ face removal over ‘significant misconduct’

EDITORIAL USE ONLY Carlos Ghosn, CEO of Nissan, during the unveiling of the next generation crossover – the all-new Nissan Qashqai, at a projection mapping show in east London.
EDITORIAL USE ONLY Carlos Ghosn, CEO of Nissan, during the unveiling of the next generation crossover – the all-new Nissan Qashqai, at a projection mapping show in east London.

Nissan chairman Carlos Ghosn and representative director Greg Kelly face being removed from their posts after an internal investigation uncovered ‘significant misconduct’, the manufacturer said today.

Prompted by a whistleblower report, the probe found that both Ghosn and Kelly had been reporting far lower compensation amounts in the Tokyo Stock Exchange securities report than the actual amount.

It means that they have been declaring a lower income.

And with regard to Ghosn, according to today’s statement from Nissan, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets”, with “Kelly’s deep involvement” confirmed.

It says: “Nissan’s chief executive officer Hiroto Saikawa will propose to the Nissan board of directors to promptly remove Ghosn from his positions as chairman and representative director. Saikawa will also propose the removal of Greg Kelly from his position as representative director.”

Ghosn oversaw the alliance of the Nissan, Renault and Mitsubishi brands, and had been in his role at Nissan since 2001.

In the wake of the news, Renault shares fell by almost 15 per cent.

Apologising for the “great concern” caused, the statement added: “Nissan has been providing information to the Japanese Public Prosecutors’ Office and has been fully co-operating with their investigation. We will continue to do so.”