Nissan boss sacked and arrested following serious misconduct
Nissan chairman Carlos Ghosn has been questioned and arrested in Tokyo by police after an internal investigation found that he'd been under-reporting his income for many years.
Ghosn has worked at the company since 1999, moving from COO to CEO before progressing to chairman. He is also the chairman of the Renault-Nissan Alliance, but all of that has come to an end.
Nissan has reported that Carlos Ghosn has been “reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount” for multiple years.
According to the company, other episodes of misconduct have also been found, such as misuse of company assets, with the investigatory group proposing that he be removed from his role at Nissan.
“Nissan deeply apologises for causing great concern to our shareholders and stakeholders. We will continue our work to identify our governance and compliance issues, and to take appropriate measures,” the company said in a statement.
Ghosn has seen the likes of the Nissan GT-R, 350Z and Leaf through the company's gates throughout his tenure
He has been arrested on suspicion of under-reporting his salary after an investigation by Tokyo prosecutors. And although Nissan and Renault may take a bit of a hammering on the stock exchange for this tricky episode, hopefully the company isn't affected too badly and can progress with its plans without the troublesome chairman.
Moral of the story? Never get too greedy with your pennies.