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Nissan Chairman Carlos Ghosn arrested over acts of misconduct
The Japanese automaker said that the company was investigating Ghosn and Representative Director Greg Kelly's improper practices.
Tokyo: Carlos Ghosn, the Chairman of Nissan Motor Co Ltd, has been terminated on charges of corruption and several other acts of misconduct.
The Japanese automaker said that the company was investigating Ghosn and Representative Director Greg Kelly's improper practices.
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"The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement.
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It said CEO Hiroto Saikawa would propose to the Nissan board to remove Ghosn and Kelly. Ghosn is also chairman and chief executive of France's Renault.
Ghosn had been arrested by Tokyo prosecutors on suspicion of under-reporting his salary.
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Shobhit Kalra
Writer has 10 years of experience in digital media. Presently working as Chief Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.
