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"."

Carlos Ghosn at Nissan

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