It’s going to be interesting to see the end game for Ghosn: Fines yes, but Japanese prison time? This isn’t France or the U.S. with tight connections between big business, government, regulatory agencies and the legal system. Japanese companies have limited – if any – influence on the Japanese criminal system.
The board of directors for Nissan Motor Co. met today at the company’s global headquarters in Yokohama, Japan. The board endorsed the long-standing and profitable Alliance partnership with Renault saying, “it remains unchanged” and that “the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners.” (Carlos Ghosn Given Temporary Reprieve by Renault Board, Nissan Chairman Carlos Ghosn Arrested and About to be Sacked by Board for Financial Misconduct. Renault-Nissan-Mitsubishi Alliance Position Threatened.)
After reviewing an internal investigation, the circumstances under which it was established and its contents remain secret in the murky and oft-criticized world of Japanese corporate management, the board voted unanimously:
- To discharge Carlos Ghosn as Chairman of the Board
- To discharge Carlos Ghosn as Representative Director
- To discharge Greg Kelly as Representative Director
- To “study the creation of a special committee to appropriately take advice from an independent third party regarding the governance management system and better governance of director compensation. The three independent directors – Masakazu Toyoda, Keiko Ihara and Jean-Baptiste Duzan – will lead the study, well, of a possible study.
An advisory committee chaired by Masakazu Toyoda and including Keiko Ihara and Jean-Baptiste Duzan will propose nominations from the board of directors for the position of Chairman of the Board.
About Nissan Motor
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. During fiscal year 2017, the company sold 5.77 million vehicles globally, generating revenue of 11.9 trillion yen.
On April 1, 2017, the company embarked on Nissan M.O.V.E. to 2022, a six-year plan targeting a 30% increase in annualized revenues to 16.5 trillion yen by the end of fiscal 2022, along with cumulative free cash flow of 2.5 trillion yen. As part of Nissan M.O.V.E. to 2022, the company hopes to extend its leadership in electric vehicles, symbolized by the world’s best-selling all-electric vehicle in history, the Nissan LEAF.
Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: Asia & Oceania; Africa, the Middle East & India; China; Europe; Latin America; and North America. Nissan has partnered with French manufacturer Renault since 1999 and acquired a 34% stake in Mitsubishi Motors in 2016.
Renault-Nissan-Mitsubishi is today the world’s largest automotive partnership, with combined sales of more than 10.6 million vehicles in calendar year 2017.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Nissan Board Deletes Carlos Ghosn as Chairman and Director
It’s going to be interesting to see the end game for Ghosn: Fines yes, but Japanese prison time? This isn’t France or the U.S. with tight connections between big business, government, regulatory agencies and the legal system. Japanese companies have limited – if any – influence on the Japanese criminal system.
The board of directors for Nissan Motor Co. met today at the company’s global headquarters in Yokohama, Japan. The board endorsed the long-standing and profitable Alliance partnership with Renault saying, “it remains unchanged” and that “the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners.” (Carlos Ghosn Given Temporary Reprieve by Renault Board, Nissan Chairman Carlos Ghosn Arrested and About to be Sacked by Board for Financial Misconduct. Renault-Nissan-Mitsubishi Alliance Position Threatened.)
After reviewing an internal investigation, the circumstances under which it was established and its contents remain secret in the murky and oft-criticized world of Japanese corporate management, the board voted unanimously:
An advisory committee chaired by Masakazu Toyoda and including Keiko Ihara and Jean-Baptiste Duzan will propose nominations from the board of directors for the position of Chairman of the Board.
About Nissan Motor
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. During fiscal year 2017, the company sold 5.77 million vehicles globally, generating revenue of 11.9 trillion yen.
On April 1, 2017, the company embarked on Nissan M.O.V.E. to 2022, a six-year plan targeting a 30% increase in annualized revenues to 16.5 trillion yen by the end of fiscal 2022, along with cumulative free cash flow of 2.5 trillion yen. As part of Nissan M.O.V.E. to 2022, the company hopes to extend its leadership in electric vehicles, symbolized by the world’s best-selling all-electric vehicle in history, the Nissan LEAF.
Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: Asia & Oceania; Africa, the Middle East & India; China; Europe; Latin America; and North America. Nissan has partnered with French manufacturer Renault since 1999 and acquired a 34% stake in Mitsubishi Motors in 2016.
Renault-Nissan-Mitsubishi is today the world’s largest automotive partnership, with combined sales of more than 10.6 million vehicles in calendar year 2017.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.