Nissan’s Disgraced Former Boss Has Also Been Dropped By Mitsubishi
Mitsubishi has removed Carlos Ghosn as its chairman in the wake of allegations that he under-reported his income from Nissan to gain a financial advantage.
Ghosn has been a senior figure at what is now the Renault-Nissan-Mitsubishi Alliance since 1999, but was recently removed from office by Nissan after it became clear that Brazilian-born Ghosn had under-reported his Nissan income to the Japanese authorities by the equivalent of £34 million.
Mitsubishi CEO Osamu Masuko, who is taking over as chairman until a replacement for Ghosn can be found, said:
“I was shocked. I just couldn’t believe it. I still don’t understand why.”
Having lost his positions at Nissan and now Mitsubishi, Ghosn’s credibility at Renault is hanging by a thread. The French brand will be incredibly reluctant to punish him, though; Ghosn is credited with almost single-handedly rescuing it from the threat of financial collapse in the late 1990s. To a large extent, Ghosn is Renault.
However, he performed an even more remarkable turnaround for Nissan. At the time of his joining the company’s board it had a $20 billion debt and only three of its 46 Japanese-market cars were actually making a profit.
Source: Motor1
Comments
What a guy
Are you guys going to write an article about how GM is shutting some of its plants?? I don’t know what’s going on but I want a car guys perspective on this
“I still dont understand why” well for money obvousily its not like he killed a dude he wanted more money so he did underhanded tactics to get more
Hey, why can’t Mitsubishi reform like how Peugeot did?
How about bring back the Evo
He looks like a mob boss
This guy is a hero to Nissan. He shrunk $20 billions of debt into profit. And he only taken extra $34 million to himself. There is a need for punishment, but shouldn’t be too severe.