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Carlos Ghosn granted bail

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Carlos Ghosn granted bail

Carlos Ghosn has walked out of jail, 108 days after being arrested disembarking a private jet operated by Nissan. At 4.30pm yesterday, the former CEO emerged from the Tokyo Detention Centre surrounded by guards...

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Renault-Nissan Alliance: New holding company chairman named
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Renault-Nissan Alliance: New holding company chairman named

Thierry Bollore has been named chairman of the holding company responsible for coordinating the Renault-Nissan Alliance, replacing embattled executive Carlos Ghosn in the role. Although he's resigned from his role as chairman and CEO at Nissan and Renault, Renault this week confirmed the currently-detained Ghosn is still a director on its board...


Ghosn: Renault might have paid for part of executive's lavish wedding
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Ghosn: Renault might have paid for part of executive's lavish wedding

Renault has uncovered payments it believes were used to partially pay for Carlos Ghosn's second wedding, held at the Château de Versailles. The company has discovered a sum of €50,000 ($80,000) it understands was "allocated to Mr. Ghosn's personal benefit" as part of a broader charitable donation it signed with the château...


Carlos Ghosn claims he was arrested to thwart merger with Renault
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Carlos Ghosn claims he was arrested to thwart merger with Renault

In a short interview with The Nikkei, Carlos Ghosn said he has "no doubt" his arrest was part of a "plot" hatched by Nissan executives to kill a potential merger with Renault and Mitsubishi. Ghosn told the newspaper "there was a plan to integrate" Renault, Nissan and Mitsubishi Motors, and claims he'd discussed these plans with Nissan CEO Hiroto Saikawa...


Carlos Ghosn: Charting his rise and fall
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Carlos Ghosn: Charting his rise and fall

Carlos Ghosn was born in 1954 in Porto Velho, a Brazilian city on the fringe of the Amazon rainforest. In his autobiography "Shift", Ghosn recounts his grandfather, a member of the Maronite minority, moving to Brazil from Lebanon to escape the crumbling Ottoman Empire and, eventually, running several companies...


Nissan CEO plans to step down
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Nissan CEO plans to step down

In a late night press conference in Tokyo, Hiroto Saikawa, CEO of Nissan, told reporters, including those from Bloomberg and The Wall Street Journal, he "would like to complete my responsibilities as quickly as possible and pass the baton on to the next leader". Saikawa stated he will concentrate on overhauling the company's governance structures...


Ghosn gone: Jailed executive resigns from Renault
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Ghosn gone: Jailed executive resigns from Renault

Carlos Ghosn, the man who once headed up Renault, Nissan and Mitsubishi Motors, has decided to quit as the chairman and CEO of Renault. After a meeting of its board of directors, Renault has appointed Thierry Bolloré as the company's new permanent CEO. Bolloré was elevated from chief operating officer to interim CEO after Ghosn was arrested in Japan in November 2018...


Renault-Nissan-Mitsubishi platform sharing plans intact, despite Ghosn arrest
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Renault-Nissan-Mitsubishi platform sharing plans intact, despite Ghosn arrest

The ongoing incarceration of former Renault-Nissan-Mitsubishi Alliance chief Carlos Ghosn in Japan over alleged financial impropriety will not unravel arrangements to share vehicle platforms and other capital costs. That's the message from Nissan’s head of global planning, Phillippe Klein, speaking in Detroit this week with Automotive News...


Carlos Ghosn makes first court appearance since arrest
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Carlos Ghosn makes first court appearance since arrest

Carlos Ghosn, the former CEO of Nissan, has appeared in court for the first time after his arrest in Japan. Ghosn was arrested on November 19, 2018 after he was accused by Nissan of a number of misdemeanours during his time at the automaker. He has been formally charged for under reporting his income by over $100 million, shifting his currency trading losses to his employer, and misusing company funds...


Accused Nissan executive released on bail, Ghosn remains in custody
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Accused Nissan executive released on bail, Ghosn remains in custody

Greg Kelly, the man accused of helping former Nissan CEO Carlos Ghosn understate his salary by around $100 million, was released from the Tokyo Detention Centre on Christmas Day. According to Reuters he was released after his family posted bail of ¥70 million ($880,000). He was photographed being taken from the jail in a taxi at around 10...


Carlos Ghosn rearrested for using Nissan funds to pay for trading losses
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Carlos Ghosn rearrested for using Nissan funds to pay for trading losses

Carlos Ghosn, the former CEO and chairman of Nissan, has been rearrested on fresh charges, with Japanese prosecutors accusing him of hiding personal trading losses with funds from the automaker. Prosecutors have informed Japanese news outlets Ghosn has been rearrested on aggravated breach of trust charges. They allege Ghosn transferred ¥1...


Nissan, Ghosn, Kelly indicted over under-reported pay
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Nissan, Ghosn, Kelly indicted over under-reported pay

Prosecutors in Tokyo have indicted Carlos Ghosn, Greg Kelly and Nissan for under-reporting Ghosn's pay in official filings. According to NHK and other Japanese news outlets, prosecutors allege Ghosn's compensation package was understated by up to ¥5 billion ($60 million) over the five-year period ending in the 2014 Japanese financial year...


Ghosn may have hidden $95 million in pay from Nissan - reports
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Ghosn may have hidden $95 million in pay from Nissan - reports

When Carlos Ghosn was arrested a few weeks ago, he was accused by Nissan of under-reporting his income in official stock exchange filings. Now details are beginning to emerge of just how he managed it. Various reports have suggested Ghosn hid between ¥5 and ¥9.5 billion ($60 to $110 million), with Bloomberg estimating a figure around $95 million...


Renault, Nissan, Mitsubishi CEOs to share top job at Alliance
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Renault, Nissan, Mitsubishi CEOs to share top job at Alliance

The chiefs of the Renault, Nissan and Mitsubishi have agreed to share the role of CEO of the Alliance. Hiroto Saikawa, CEO of Nissan, told Bloomberg and other news outlets after a meeting of the Alliance's board in Amsterdam: “We were able to confirm that the three of us would take the lead, which was excellent"...


Renault-Nissan leaders to meet over Ghosn's ousting - report
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Renault-Nissan leaders to meet over Ghosn's ousting - report

Renault and Nissan will meet to ward off the potential of a power struggle within their alliance, following last week's sensational arrest of chairman and CEO, Carlos Ghosn. The executive, who until last week was one of the highest paid, most respected figures in the automotive world, is accused of under-reporting his income on the Japanese stock exchange, and misusing company funds to the tune of AU$62 million...


CarAdvice podcast 130: A Land Rover with missiles?
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CarAdvice podcast 130: A Land Rover with missiles?

This week Mandy Turner, Curt Dupriez and Sam Purcell are broadcasting from Torquay, Victoria, on a massive CarAdvice project at the AARC. Stay tuned for more on that in the coming weeks... In car news, Audi has taken a four-door TT off the table, Carlos Ghosn has been arrested over 'serious misconduct', the Mazda CX-5 has been given a turbo engine and Apple CarPlay, and 2019 Ford Focus Active pricing and specs have been announced...


Nissan removes Carlos Ghosn as chairman
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Nissan removes Carlos Ghosn as chairman

Nissan has confirmed Carlos Ghosn has been removed by the board as company chairman. Ghosn and his co-accused, Greg Kelly, have also been removed as representative directors. We understand, however, both men remain on the company's board as directors, as they can only be forcibly removed at a shareholder meeting...


Ghosn was planning Renault Nissan merger before arrest - report
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Ghosn was planning Renault Nissan merger before arrest - report

Prior to his sensational arrest earlier this week, Carlos Ghosn was reportedly working on a merger between Renault and Nissan. Sources close to Nissan's board have told the Financial Times Ghosn was attempting to engineer a merger in order to make the partnership between the two companies "irreversible"...


Nissan money secretly used to buy houses for former CEO - report
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Nissan money secretly used to buy houses for former CEO - report

Reports from Japan indicate Carlos Ghosn, current chairman of Nissan and its former CEO, was arrested on-board his private jet. Sources have told NHK funds from Nissan and its affiliates were used to purchase and renovate luxury homes for Ghosn's personal use in Paris, Amsterdam, Rio de Janeiro, and Beirut...


Nissan CEO denies 'coup d'etat' against Ghosn, talks about his 'negative impact'
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Nissan CEO denies 'coup d'etat' against Ghosn, talks about his 'negative impact'

During an extraordinary hour-and-a-half long press conference, Hiroto Saikawa, CEO of Nissan, talked candidly as he could about the events leading to Carlos Ghosn's arrest, and his influence on the company. In a spartan room, notable for the complete lack of Nissan branding, Saikawa read from notes for over 20 minutes, repeatedly stating the danger of concentrating too much power in one individual and referencing Ghosn's "long regime"...