Economy

Nissan to leave chairman post unfilled after ousting Ghosn

Nissan to leave chairman post unfilled after ousting Ghosn

He was stripped of the role of Nissan chairman but remains a board member.

Nissan, Renault and Mitsubishihave pledged a "new start" for the world's top carmaking alliance, breaking up the all-powerful chairmanship previously occupied by ousted boss Carlos Ghosn in a move created to put the three motor companies on a more equal footing.

Ghosn is facing trial in Japan for failing to disclose some $82-million in income he had arranged to be paid later, as well as transferring personal investment losses to Nissan when he was chief executive.

Ghosn's November arrest and dismissal as Nissan chairman, following an internal investigation, inflamed tensions with 43.4 per cent-owner Renault that have begun to ease since his forced resignation from the French auto maker in January. He has indicated that he is prepared to fight to prove his innocence in court.

Renault has sidelined a senior executive close to Carlos Ghosn, as the French vehicle maker and its Japanese affiliate Nissan continue to overhaul management in the wake of the financial scandal engulfing their former chairman.

Released on $9 million bail last week after spending more than 100 days in a Tokyo detention centre, Ghosn faces charges of under-reporting his salary at Nissan by about $82 million over almost a decade. In Japan, preparations can take months.

Former Nissan chairman Ghosn was released on a $9 million bail last week after spending more than 100 days in a Tokyo detention centre.

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This is a "new start" for the alliance, Mr Senard said.

If his request to attend the board meeting had been approved, he would have been expected to dial into the meeting via teleconference, given the conditions of his bail, according to a person familiar with Nissan's thinking.

But his bail conditions prevent him from contact with anyone else involved in his case - including Saikawa, who also attended Tuesday's meeting. Europe chief Jean-Christophe Kugler is also departing.

Former Alliance Chairman Carlos Ghosn was barred from attending the board meeting by a Tokyo judge.

"Nissan's strong opposition to Ghosn's attendance is very regrettable", Hironaka said outside his law office. Mann, who was Munoz's predecessor at Nissan, was sent to Mitsubishi in 2016 after Nissan took a stake in the carmaker.

Also on the shareholders' agenda is the dismissal of Greg Kelly, a director who was arrested with Ghosn and accused of working with Ghosn in the alleged misconduct.