Nissan Motor Co shareholders ousted erstwhile boss Carlos Ghosn as a director on...
TOKYO - Nissan Motor Co shareholders ousted erstwhile boss Carlos Ghosn as a director on Monday, formally severing his ties with the Japanese automaker he rescued from near-bankruptcy two decades ago and from which he is now accused of siphoning funds.
Tokyo prosecutors last week took the highly unusual step of re-arresting Ghosn - who had been out on $9 million bail - returning him to the Tokyo detention center where he had previously spent more than 100 days. Under the latest allegations, he is suspected of trying to enrich himself to the tune of $5 million at the automaker’s expense.
Meeting shareholders for the first time since Ghosn’s arrest rocked the global auto industry last year, Chief Executive Hiroto Saikawa started proceedings at a Tokyo hotel by apologizing for the inconvenience the scandal had caused, followed by a deep bow of contrition from him and a panel of executives and directors.
They also voted in Renault Chairman Jean-Dominique Senard as a director, an expected move that was widely seen as assuaging concern about the future of the Nissan-Renault automaking alliance engineered by Ghosn.The fall of one of the world’s most-feted executives appeared to have left some Nissan shareholders nonplussed.
Saikawa on Monday said Nissan may claim damages against Ghosn, and that he would work to stabilize the company before standing down as chief executive.
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