Nissan's Arrested Chairman Gets the Boot

Full shareholder vote needed to make ouster of Carlos Ghosn official
By Arden Dier,  Newser Staff
Posted Nov 22, 2018 8:00 AM CST
Nissan Board Ejects Arrested Chairman
A car believed to be carrying company executives leaves the Nissan Motor Co. global headquarters near Tokyo on Thursday.   (AP Photo/Eugene Hoshiko)

Nissan has followed up on its promise to remove Chairman Carlos Ghosn. The auto company's board voted Thursday to oust its arrested leader, accused of underreporting his income by more than $44 million, and senior executive Greg Kelly, who was allegedly involved in the scheme, per the BBC. The 64-year-old Ghosn, who headed a three-firm alliance, remains chairman and CEO of Renault, though Mitsubishi has asked its board to remove him. Per the New York Times, Nissan's move won't be official until a full shareholder vote, which is required for such a removal under Japanese corporate law. (More on Ghosn's alleged crimes here.)

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