Carlos Ghosn Unanimously Discharged By Nissan Board of Directors

NOV 22 2018 BY MARK KANE 85

Carlos Ghosn once united Renault and Nissan, but now he’s out.

The board of directors for Nissan, as expected, decided to remove Carlos Ghosn and Greg Kelly from Representative Director positions (Ghosn was also Chairman of the Board).

The decision was made after reviewing a detailed report of the internal investigation, which later prompted prosecutors to arrest Carlos Ghosn and Greg Kelly a few days ago.

Nissan adds that “the long-standing Alliance partnership with Renault remains unchanged”.”

If the allegations are confirmed, we should see similar decisions made by the other companies in the Renault-Nissan-Mitsubishi Alliance.

Press release:

Nissan Board of Directors announces decisions

The board of directors for Nissan Motor Co., Ltd. met today at the company’s global headquarters in Yokohama

The board of directors for Nissan Motor Co., Ltd. met today at the company’s global headquarters in Yokohama. At the beginning of the session, the board acknowledged the significance of the matter and confirmed that the long-standing Alliance partnership with Renault remains unchanged and that the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners. After reviewing a detailed report of the internal investigation, 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. Further to the mandate, the three independent directors – Masakazu Toyoda, Keiko Ihara and Jean-Baptiste Duzan – will lead this matter.
  • To approve establishment of an advisory committee chaired by Masakazu Toyoda and including Keiko Ihara and Jean-Baptiste Duzan. The committee will propose nominations from the board of directors for the position of Chairman of the Board.

Source: Reuters

Categories: Mitsubishi, Nissan, Renault

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85 Comments on "Carlos Ghosn Unanimously Discharged By Nissan Board of Directors"

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Never liked him.

🙄

Carlos might not like you either.

And what Nissan didn’t “like” seems to be what this was about. I’m with Daily Kanban, and Bertel Schmitt on this one. The details that have become Nissan’s lever likely got them out of having to go before shareholders. What is the likelihood Nissan resists the future, without Ghosn?
https://dailykanban.com/2018/11/ghosn-scandal-day-2-toxic-perks-and-a-chart-that-got-me-fired/

This story is becoming like any other in modern journalism. The Wall Street Journal’s fresh lead story reads like they’re towing the line for Nissan. It says nothing about their seizing control. I hate to be cynical, but it is just too easy. Bad enough, the car company may have other motives. But don’t doubt a major paper wouldn’t facilitate what, in the end, would serve its interests over “journalism’s”.

I hate to be that guy, but you “toe the line” by lining up abreast, like runners lining up with their toes on the starting line. And don’t get me started on lose vs. loose!

Seriously? Who would vote this comment down? I’ve seen this a lot lately— it grates my nerves every time.

People who don’t like someone that feels the need to be the spellchecked.

And personally I like ziv.

The whole thing stinks. It’s a coup by the Japanese over their French counterparts.

Sad to see Carlos Ghosn treated like this, considering he was instrumental in turning the company around.

I will never consider a Nissan car.

“It’s a coup” You’re right he literally did nothing wrong.

Agreed.

I am done with Nissan.

You can’t blame Nissan too much on this really. Nobody likes to be taken over. Yes Ghosn kind of saved Nissan in crisis, but it is business and it is about taking over ownership and control in the first place, not saving a person drowning off a beach for nothing in return.

The Japanese need to be better in business and become better negotiators.

He still runs their sister company that just happens to control Nissan.

Dude if you don’t like to be controlled, don’t become nearly insolvent and sell nearly half the company. If you don’t like the owners, buy them out. If you can’t, then that’s your problem, not Renault’s.

Agreed ‼️

Seriously, Daily Kanban? That’s not exactly an unbiased news source. I wouldn’t claim it’s as bad as Fox News or Breitbart, but its radically pro-Japanese (and anti- everybody else) bias certainly distorts coverage there quite a bit.

So it’s radical pro-Japanese bias that makes them publish an article alleging a coup of the Japanese Nissan leadership against the non-Japanese Ghosn? Totally makes sense…

I love how liberals look at conservative media, and call it bias, but you don’t think that CNN, the Washington Post, or the New York Times are not bias.

It’s this arrogant elitist mentality of the left that is just so sickening. How is it, that you guys can stand each other with such absurd smugness.

Plus your opinion on the Daily Kanban makes no sense if you read the article. The article is criticizing Nissan! I guess you were so assured in being right, that the article was not worth reading. Kinda proves my point about lefties.

Elitist? I didn’t realize that the Wall Street Jounal was the financial paper of the common man. You guys just repeat “elitist” without thinking about what you are saying. It simply doesn’t get more elite than the Journal.

Thank you Mega for saying exactly what i was thinking. No source is perfect, no source is free from bias, because humans are biased. Full stop. And for Pu-Pu to list Breitbart shows me he probably has never listened to Breitbart radio. IMO, they do they best job of all shows in presenting both sides of an argument and in keeping the conversation civil. And I intentionally listen to NPR, Progress Radio, ABC, CBS and the like in order to get all sides. I think NPR does a good job in general, but I think Breitbart is better overall. Progress Radio is absolutely the most biased, most logic avoiding source of “news” one can find, and they absolutely do everything they can to fan the flames of discord among their listeners and incite hatred and division.

They should hire Elon Musk

Elon is already seriously over worked. No time for another company. Besides Elon only wants to run companies he started and controls.

He didn’t start Tesla.

He made Tesla what it is.

But he did finance it right from the beginning. And Eberhard had no vision to go beyond being a niche manufacturer of the Roadster, one of the reasons Musk took over.

That’s simply not true. The original founders of Tesla Motors, including Martin Eberhard — and not including Elon Musk — are the ones who created the vision of building a series of successively lower cost BEVs, taking advantage of falling battery prices.

We can credit Musk for following the original vision of the founders; their “Darkstar — Whitestar — Bluestar” business plan became the (original) Roadster, the Model S, and the Model 3. We can also credit Elon for growing the company significantly faster than it would have without his amazing ability to raise funds.

One of Elon’s faults is taking credit for the accomplishments of others. We certainly don’t need to help him with his spotlight-grabbing by claiming that he is the one who envisioned that Tesla Motors would grow beyond merely building the 2008 Roadster!

Do you have a source for that? There is precious little verifiable information about the early days of Tesla as far as I’m aware…

He was 1 of the 5 co-founders, without him, Tesla would have disappeared.
His $500 million investment and the efforts made what Tesla is today.

Elon Musk “co-founded” Tesla.

“Tesla was founded in July 2003, by businessmen Martin Eberhard and Marc Tarpenning, under the name Tesla Motors. The company’s name was derived from physicist Nikola Tesla. In early Series A funding, Tesla Motors was joined by Elon Musk, J. B. Straubel and Ian Wright, all of whom are retrospectively allowed to call themselves co-founders of the company. “

Source: Wiki https://en.m.wikipedia.org/wiki/Tesla,_Inc.

Yeah, “co-founded”, from the definition of founded: “to establish or set up, especially with provision for continuing existence.” of which Elon was instrumental, but the poster above said “Besides Elon only wants to run companies he started”, and Elon Musk did not start Telsa.

Yeah, Musk certainly was not one of the founders, regardless of the fact that he got a court to “officially” declare him a co-founder. He wasn’t yet part of the team when Tesla was incorporated.

Pravda means, more or less, “official truth”. Seems like Russia isn’t the only country with pravda! 🙁

Se how much he invested, before he went to take control, and why!

Yeah, sure. The Japanese resented their French counterparts, and you think, they will be more open to their American counterparts with Elon running the show?

Ghosn is more American than Musk.

But not more Japanese…

I don’t think he did anything really wrong, just allocated some expenses to the company that should have been paid privately. He was not embezzling large sums, simply an error in judgement. I think there are some on the board that wanted him out, and this was their chance. Normally could have just been reprimanded and paid back the amount.

I don’t know, a million here, a million there and before you know it, we are talking some serious money.

Idiots.

This is only about power and control that they still don’t have.

@Roy_H keeps their books, so he knows.

The fact that he built big homes in places like Beirut where they have no possible interest using partially Nissan Funds was raising eyebrows.

No offense – but Nissan is far more concerned with the facts of the matter than what Roy_H thinks. Also it is not all that great for optics when your Chairmen are arrested by the Japanese Gov’t for 10 days..

Since he was the Savior of Nissan, I’m sure that for a while, everyone turned a Blind Eye – but sooner or later – it comes down to – “What have you done for me Lately?”

Optics? Nissan led the charges and asked the Japanese goverment to intervene, giving no warning to Ghosn, who was blindsided. The complete opposite of what any normal corp. would do. It was a coup and frankly disgraceful.

Talk about an epic rise, and then fall… This is looking like a Greek tragedy, a modern Prometheus Bound, with Ghosn attempting to give man the “fire” of full utility electric vehicles only to be damned by the God-like powers that be. Or the Japanese justice system, in this case.

Yes, it’s a Greek tragedy. But it’s more like a modern Icarus than a Prometheus Bound. Ghosn made a pair of battery-powered wings that allowed him to fly close to the sun, but since the batteries had no thermal management they degraded prematurely, losing close to 40% of their capacity after only two year of moderate use. One day when Ghosn was flying towards the sun, he miscalculated how the range of his degraded battery-powered wings and ran out of charge. Ghosn fell from the sky, tumbling back to earth.

LOL! I need to ponder that a bit…

His early Sycophant true-blue compatriot, Andrew Palmer – offered to ‘adjust the bars’ on those troublesome Guess-O-Meters. Exactly like fixing a leaky and shriveling gas tank by offering to make the gas gauge point toward FULL until absolutely empty.

Deliberately done.

It’s going to be interesting because he still is a pivotal part of their alliance.

High stakes corporate politics… can get bloody at times. Old Guard rising up and stabbing Carols in the back to prevent significant further consolidation of Renault-Nissan that Carlos had planned.

Will likely result in slow spiral dive of Renault-Nissan.

Sad but true.

I will Vote with my wallet.

I am no longer buying Nissan.

Nissan had the BEV world (or the USA version therof) in the palm of their hand in 2014 when they sold 30,000+ Leafs in the US. No plug in car had ever come close to 30k. In fact, no other plug in car sold more than 30k cars in the US until Tesla did it with the Model 3 this year.
And Nissan threw that lead away like it was yesterdays news. Amazing.
A 60 kWh Leaf in 2015 or 2016 would have been a huge hit. And we are still waiting for it. When it does arrive it will be too little, too late. Tesla ate your lunch, Nissan

Yea I’ll only buy products from companies that will overlook the CEO making false declarations about their own earnings!

Or so they say.

BUT BUT BUT….. he was only doing $420 Assured to impress his girlfriend.

First, we have little information about whay actually happened. But we do know that it’s a coup. I trust no information coming out of Nissan.

I hope this is not the end of Nissan Leaf.

Nothing would surprise me at this point.

If they ever deliver the 60+ kWh Leaf, it should be a very nice car. Here is hoping we see it soon.

Who wants Nissan Leaf? 35k M3 would be much better deal.

“would be”… enough said

There should have been many forces at Nissan trying to stop / slow Leaf and that’s why it is having lackluster sales while Model-3 is continuing its blitz.
Don’t be surprised if they just discontinue it. They just support vehicles with engines.
Proud Leaf owner.

Nissan still needs a BEV to meet ZEV requirements regardless of who is in charge.
It’s going nowhere.

Gosh, just like that, Goshen’s gone!

You’d suck as a standup!

It looks as though my flawed attempt at Turkey Day Nissan Corporate CEO humor,
has absolutely sunk down to a new all-time “Car-Lows”!

@william

LOL! 🤣

Unfortunately, his name is pronounced nothing like that. And if you use the original Arabic,
كارلوس غصن
rather than Brazilian Portuguese, even less so.

This is a sheer conspiracy on the part of Nissan, Mitsubishi and the Japanese government to keep the foreigners out.
1st, they have to release him from jail and let him go to France. Most likely they want to sever the alliance with Renault and keep Nissan and Mitsubishi in 1 pot.

Arrogant Japanese, Infiniti is already a gone case in Europe and is suffering sales in USA. Mitsubishi will follow suit soon. Lets see what happens to Nissan.

*accuses everyone else of a conspiracy*
*has no evidence of a conspiracy*

this is a serious post on the internet.

If there is wrongdoing, their government should levy a fine, not arrest him.
VW/Audi/Porsche executives were not arrested immediately after the diesel scandal.
There were court proceeding and only after they were proved guilty, they were arrested.

Arresting straightway without taking him to court shows that there is conspiracy. They just don’t want any foreigners / foreign products on their soil. I only hope French government takes some action in getting him out.

The US did arrest the German VW dude who foolishly decided to go on vacation to Disneyland in Florida.

“There were court proceeding and only after they were proved guilty, they were arrested.”

Please tell me you’re joking. 🙄

VW’s CEO was never arrested. Takata’s wasn’t, Mitsubishi’s wasn’t. All three companies caught falsifying product data, with effects on health and safety of millions of people. And Ghosn goes to jail without bail for a house in Beirut?

Can they afford to buy out the shares of Renault?

If Renault wants to sell….. They can’t forcefully take the shares from Renault.

They can make a strong offer, with a 30 or 40% premium. But it seems like they want to control the company for free.

I don’t think Ghosn is one to lay about sipping pina coladas and living off his millions. I have a job for him. He should take over Fiat/Chrysler. See if he can turn that one around before it hits the iceberg. Chrysler does employ a lot of Canadians so I’d like them to stick around.

Turn around FCA? Sergio Marchionne is already credited for that…

They are in the middle of the Atlantic Ocean with out Sergio.

I’d rather he be Elon’s COO.

I hope he will return to France, take over Renault/Dacia brands and probably build a whole new EV that will sell well.

He has been CEO of Renault for years until now, responsible for the pretty decently selling ZOE among other things…

He is still their CEO.

They asked Nissan to not to make any decisions until Carlos was released, but NO.

He is still their CEO.

They asked Nissan to not to make any decisions until Carlos was released, but NO.

I’m sad to see all the rush to judgement by people commenting here. I think the U.S. ideal of “innocent until proven guilty beyond a reasonable doubt” is a good one. It’s much, much too early to pronounce Ghosen either an innocent victim of political machinations, or to state as fact that he embezzled millions.

I think we should wait for the investigation to run its course, rather than jumping to a conclusion. “Convicted” and “sentenced” by the media isn’t at all the same as being convicted in a court of law.

Sadly, there is one thing which is certain: This is a black eye for Nissan.and the Renault-Nissan alliance. I don’t know whether or not this is going to delay Nissan or Renault moving strongly to fully embrace the EV revolution, but I doubt it’s going to help.

Truth ‼️

How dare he take the money we paid him!

I’m glad he’s out. Nissan might have been struggling when he came on, but their product and technology quality was top notch before Ghosn got involved and started cutting costs everywhere.

And the Leaf’s battery pack is emblematic of this poor and cheap design. TONS of R&D cash spent on the EV programs, and they still produced an underspecced, low life battery.

Late 90’s Nissans were the best cars i’ve ever driven. I just retired my 1997 Maxima this year, but i’d buy another brand new one because they were awesome cars. I hope Nissan gets back to putting quality in their vehicles.

The Leaf was engineered to be cheaper to build and to provide a path towards cheap EVs. The problem Ghosn was trying to solve was to be able to make EVs for India, something Tesla just cannot do. He sees increasing car use in India and China to be completely unsustainable with internal combustion.