About to be ejected as chairman of Nissan Motors, Carlos Ghosn's future at Mitsubishi and Renault is now very much in doubt. A day after Ghosn was arrested on suspicion of understating his Nissan income by more than $44 million, Mitsubishi said it would ask its board to "promptly remove" the chairman, while France's finance minister said the 64-year-old CEO was "no longer in a position" to lead Renault, which is partially state-owned, per CNN and the BBC. Indeed, Ghosn is likely to spend the next several weeks in a jail cell, the Wall Street Journal reports, noting that Japanese courts typically grant prosecutor requests to hold suspects without charge for up to 20 days after an initial arrest.
What's more, suspects can't request bail for that period and may be subject to daily interrogations without a lawyer, per the Journal. If prosecutors bring any new charges against Ghosn, which is likely, the process could be repeated. French finance minister Bruno Le Maire on Tuesday hinted at COO Thierry Bollore as a possible replacement at Renault, noting the "need to have an interim management structure in place as quickly as possible." Renault's board will meet Tuesday evening. (Ghosn may have conspired with another Nissan board member.)