Greg Kelly, a former American executive at Nissan, has been given a 6-month suspended sentence by a Tokyo court. Kelly was charged with underreporting his boss Carlos Ghosn’s pay in violation of Japan's financial disclosure law.
Prosecutors had asked that Kelly be sentenced to two years in prison. They alleged Ghosn, Kelly and Nissan Motor Co. underreported Ghosn’s compensation by 9 billion yen in filings over eight years through 2018.
Ghosn was a superstar at Nissan, which he headed for nearly 20 years. French alliance partner Renault SA sent him to lead a turnaround of its near-bankrupt alliance partner. His downfall was sudden, with Nissan officials who had been close to him accusing him of amassing power for personal gain and planning a merger of Nissan with Renault.
Japanese executives tend to be paid far less than their American counterparts, an important factor in the trial. Disclosure of high executive pay became required in Japan in 2010, and what was disclosed for Ghosn, at about $9.5 million even without the deferred compensation, had raised eyebrows.
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