Datsun

Carlos Ghosn, former CEO of Nissan who was in Japan awaiting trial on multiple charges for misusing corporate funds and hiding his pay, has dramatically fled the country for Lebanon.

Nissan's annual general meeting has approved sweeping governance changes, which were championed by its CEO Hiroto Saikawa. As part of the reforms, the Nissan 11-strong board will feature two representatives each from Nissan and Renault, and seven independent directors. The company also gains three new committees overseeing nomination, compensation and audit. These committees will be led by outside directors, but will have representative each from Nissan and Renault.

Departments overseeing cooperation between Nissan and Renault are reportedly losing staff, or have nothing to do. Sources have told the Financial Times the departments within the Renault-Nissan-Mitsubishi Alliance overseeing cooperation and joint functions are either being axed completely, or have gone without work assignments for months. The alliance departments overseeing sales and marketing, communications, and light commercial vehicles are said to be shrinking and dismissing staff.

Overnight, Carlos Ghosn, the former CEO and chairman of Renault and Nissan, published a seven-and-a-half-minute video stating his innocence, and claiming he was arrested as part of a "conspiracy". The video was recorded prior to Ghosn's re-arrest last week, when he was out on bail. Although Ghosn claims he is "innocent of all the charges that have been brought against me", the former Nissan CEO didn't provide any evidence to substantiate his assertion.

The heads of Renault, Nissan and Mitsubishi Motors have agreed to form of a new board of management for the three-headed automaking alliance. As part of the deal agreed to in Tokyo, the "New Start" board will be chaired by Jean-Dominique Senard, chairman of Renault. The other members of the board will be Thierry Bollore, CEO of Renault; Hiroto Saikawa, CEO of Nissan; and Osamu Masuko, CEO of Mitsubishi Motors.