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Tag Archives: carlos ghosn
Groupe Renault Changes Execs – outsider Luca de Meo as CEO, Clotilde Delbos Deputy CEO
De Meo becomes the second executive to lead Renault (RNLSY) since Ghosn was arrested in Japan in 2018 and subsequently charged with financial fraud. Ghosn’s successor at Renault, Thierry Bollore, left last fall, in part it seems because he was a Ghosn protégé and after the collapse of a proposed merger with Fiat Chrysler in June that Nissan nixed. Continue reading
Nissan Blasts Ghosn as Unfit to Serve as An Executive
“The internal investigation found incontrovertible evidence of various acts of misconduct by Ghosn, including misstatement of his compensation and misappropriation of the company’s assets for his personal benefit,” Nissan said. Continue reading
SEC Charges and Settles False Financial Disclosures Against Nissan, Former CEO Carlos Ghosn, Former Director Greg Kelly
Critics no doubt will say the settlement is laughable given the amount of money involved. Continue reading
Nissan Shareholders Elect 7 Independent Directors Out of 11
The new board of directors comprises 11 individuals, seven of whom are independent outside directors. Power appears to be evenly split between Renault and Nissan despite Nissan’s and the Japanese government’s interest in asserting more control. Renault, which owns 43% of Nissan and the French government, which owns 15% of Renault, are pushing for a merger. Paper organization charts are not always how business is conducted in mega, joint venture corporations. So, it will take some time to see how this works out as the Ghosn matter proceeds through the Japanese “legal” system. Continue reading
Renault Returns the Nissan Abstinence Vote Favor
This after the French government asked for more time to study the FCA Renault merger when it learned that Nissan intended to abstain from a vote that would allow it to go forward. Continue reading
Renault Board Confirms Expenses Improperly Used by Ghosn
Several expenses incurred by RNBV for a total of ~€11 million include questionable air travel expenses for Mr. Ghosn; other expenses incurred for Mr. Ghosn; and gifts to non-profit organizations. Continue reading
Posted in litigation, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, carlos ghosn, Ken Zino, Renault Nissan alliance, RNBV
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Renault Board Backtracking on Carlos Ghosn Innocence
This is a significant departure from its initial backing of Ghosn in the latest twist of an ongoing global intrigue that involves in-fighting among Alliance partners, income inequality, trade wars and corporate governance policies in France, Japan and elsewhere. Continue reading
Unions Protest Nissan Closure of Catalan Factories
The unions claim that in Europe there is a firm commitment to a New Green Deal, with a direct injection of one hundred billion euros and a private contribution of 250,000 million more. An important part will go to sustainable mobility. They feel that Nissan is missing an opportunity to get support for a shift towards electric vehicles, smart driving, and shared mobility. Continue reading →