Nissan Preparing To Fire Carlos Ghosn For Not Reporting 44 Million In Income

[Palumboism]

Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him

BY Michael Karkafiris | Posted on November 19, 2018

Renault-Nissan-Mitsubishi’s CEO Carlos Ghosn has been arrested in Japan on charges of not reporting his full compensation, along with Representative Director Greg Kelly.

Nissan has confirmed that they’re performing an internal investigation that involves both Ghosn and Kelly for many years based on a whistleblower report.

Local media say that Ghosn is accused of not reporting around $44 million (5 billion yen) of income in the course of 5 years, along with other violations of Japan’s financial laws.

Nissan is getting ready to oust Ghosn and Kelly at a board meeting, with the automaker to hold a press briefing in Tokyo later today.

The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” said Nissan in a statement.

https://www.carscoops.com/2018/11/carlos-ghosn-arrested-misconduct-japan-nissan-preparing-fire/

This is a shame.  Ghosn has done impressive work at Nissan.  He combined the three mules Renault, Nissan, and Mitsubishi to create a powerful horse.  And he showed the proper way to do an auto alliance, where one company doesn't take over the other like the failed Daimler Chrysler merger, but the two companies are allowed to operate separately with increased sharing of parts and platforms.  

[Humble Narcissist]

Some people are so obsessed with money that no amount will satisfy.

[Coach is Back!]

Nissan was in on the investigation as well, I guess you can say he was already fired but not officially until the investigation was over and he was arrested.

[Parker]

Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him
BY Michael Karkafiris | Posted on November 19, 2018

Renault-Nissan-Mitsubishi’s CEO Carlos Ghosn has been arrested in Japan on charges of not reporting his full compensation, along with Representative Director Greg Kelly.

Nissan has confirmed that they’re performing an internal investigation that involves both Ghosn and Kelly for many years based on a whistleblower report.

Local media say that Ghosn is accused of not reporting around $44 million (5 billion yen) of income in the course of 5 years, along with other violations of Japan’s financial laws.

Nissan is getting ready to oust Ghosn and Kelly at a board meeting, with the automaker to hold a press briefing in Tokyo later today.

The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” said Nissan in a statement.

https://www.carscoops.com/2018/11/carlos-ghosn-arrested-misconduct-japan-nissan-preparing-fire/

This is a shame.  Ghosn has done impressive work at Nissan.  He combined the three mules Renault, Nissan, and Mitsubishi to create a powerful horse.  And he showed the proper way to do an auto alliance, where one company doesn't take over the other like the failed Daimler Chrysler merger, but the two companies are allowed to operate separately with increased sharing of parts and platforms. 

Nissan decided not to build the IDx small coupe, that was well received and would have been the spiritual successor to the 510. But, instead they decide to build two phallic looking racecars that didn’t do well, wasting millions of development dollars  on these projects, instead of on cars that either needed to be replaced or developed—-like the  370Z, which is almost 10 yrs old, and the GT-R is 10 yrs old. Nissan’s sales have been tanking, and their CUV/SUV offerings suck. And then they add the sinking ship of Mitsubishi. 

[Bevo]

Nissan decided not to build the IDx small coupe, that was well received and would have been the spiritual successor to the 510. But, instead they decide to build two phallic looking racecars that didn’t do well, wasting millions of development dollars  on these projects, instead of on cars that either needed to be replaced or developed—-like the  370Z, which is almost 10 yrs old, and the GT-R is 10 yrs old. Nissan’s sales have been tanking, and their CUV/SUV offerings suck. And then they add the sinking ship of Mitsubishi. 

Crap company, when they cancelled that IDx it was the final straw 

[Obvious Gimmick]

44 million is chump change for your average getbigger. Hardly worth reporting

[The_Punisher]

yeah, but I bet ya a 2015 GT-R will hold it's value against any corvettes and for that matter the current Z06....Nissan waited too fucking long to redesign the GT-R, but it is no doubt it's a good fucking Sports car and hold on pretty well against the competition, some are just reluctant to pay north of 170k for a GT-R (nismo that is)....I'd take this 2015 over the current ZR1....

[Dokey111]

Some people are so obsessed with money that no amount will satisfy.

Absolute truth, and it's a sickness.  What a waste of life.

[Obvious Gimmick]

I heard on some stupid TV show: there's only 2 amounts of money - enough and not enough

[Palumboism]

Nissan decided not to build the IDx small coupe, that was well received and would have been the spiritual successor to the 510. But, instead they decide to build two phallic looking racecars that didn’t do well, wasting millions of development dollars  on these projects, instead of on cars that either needed to be replaced or developed—-like the  370Z, which is almost 10 yrs old, and the GT-R is 10 yrs old. Nissan’s sales have been tanking, and their CUV/SUV offerings suck. And then they add the sinking ship of Mitsubishi. 

Not according to sales numbers, revenue, and profit.  By those important numbers Carlos earned his pay.

With more than 10.6 million passenger cars and light commercial vehicles sold in 2017.
 
Renault’s sales were 3,761,634 units in 2017.
Nissan Motor Co. Ltd. sold 5,816,278 vehicles worldwide.
Mitsubishi Motors Corporation sold 1,030,454 vehicles in 2017.

Total profit of over $12 billion for the year.

Not including heavy trucks, the group outsold Volkswagen group, which had 10.5 million in sales making it the best selling group in the world.

[Palumboism]

Crap company, when they cancelled that IDx it was the final straw 

They have the Rogue and Pathfinder in America.  Small coupes don't matter because nobody's buying them. 

Infiti's crossover line's well stocked. 

[Palumboism]

Jalopnik is proposing he got wacked because he was trying to merge Renault and Nissan.  As it is, they are spearate companies with Renault owning 43 percent of Nissan and Nissan owning 15 percent of Renault.

Was Carlos Ghosn Whacked?
By Michael Ballaban

There’s an old Mafia trope. Usually a mob boss looks all-powerful, like nothing can stop him and no one can stand up to him. Until he takes things a step too far, and The Commission, AKA the Board of Directors, the other families, whatever, they decide he’s done. And then they get whacked. A new story from the Financial Times heavily implies that former Renault-Nissan-Mitsubishi Alliance megaboss Carlos Ghosn took things a step too far, and then Nissan’s board decided Ghosn had to go.

https://jalopnik.com/was-carlos-ghosn-whacked-1830569053


The whole thing just looks too suspicious, like he was set up.  Carlos is in Jail right now and will probably stay there for the next couple of weeks.  All three companies have distanced themselves from Ghosn and installed new leaders.  Somebody wanted him out.  

When Ghosn took over at Nissan they were 20 billion in debt and EVEN the JAPANESE BANKS WOULD NOT LOAN THEM MONEY.  If it was an American company it would have been bankrupt.  Ghosn saved Nissan.

[NarcissisticDeity]

Nissan decided not to build the IDx small coupe, that was well received and would have been the spiritual successor to the 510. But, instead they decide to build two phallic looking racecars that didn’t do well, wasting millions of development dollars  on these projects, instead of on cars that either needed to be replaced or developed—-like the  370Z, which is almost 10 yrs old, and the GT-R is 10 yrs old. Nissan’s sales have been tanking, and their CUV/SUV offerings suck. And then they add the sinking ship of Mitsubishi. 

Huh?  In 2017, Nissan sold 403,465 Rogue crossovers. That makes it the fifth best-selling vehicle in the US, narrowly losing out to the Toyota RAV4 (407,594) and the trio of domestic trucks that always sweeps the podium

5th best selling vehicle in the United States !! No market for cars anymore, Everyone wants crossovers

[Parker]

Huh?  In 2017, Nissan sold 403,465 Rogue crossovers. That makes it the fifth best-selling vehicle in the US, narrowly losing out to the Toyota RAV4 (407,594) and the trio of domestic trucks that always sweeps the podium

5th best selling vehicle in the United States !! No market for cars anymore, Everyone wants crossovers

You and Polumboism are correct. I should have specified that their car offering sales are tanks, as is everyone else’s. However, their CUV/SUV offerings are still less than desirable compared to Honda, Toyota, hell even Ford.

And let’s not start on Infiniti...

[Palumboism]

You and Polumboism are correct. I should have specified that their car offering sales are tanks, as is everyone else’s. However, their CUV/SUV offerings are still less than desirable compared to Honda, Toyota, hell even Ford.

And let’s not start on Infiniti...

I got burned by a Maxima years ago with engine problems and transmission problems, so I'm off Nissan and vastly prefer Toyota and Honda.  

From a business perspective the Renault, Nissan, Mitsubishi alliance makes sense.  Especially because Ghosn made sure they shared platforms and parts wherever possible to cut costs.  For example almost all the Renault SUV's are really Nissans and I expect them to do the same with Mitsubishi.  In the auto industry size matters because the development and tooling costs are huge.  The more units you can spread those cost over the better.  

In particular this helps with shared platform concepts like Volkswagens MQB and Toyota's New Global Architecture (TNGA), which allows Volkswagen and Toyota to build vastly different vehicle on the same platform.  For example the TNGA is shared by the Corolla, Camry, Avalon, and RAV4.  

In addition you have commonality in shared systems under the skin like wire harnesses, starters, alternators, etc.  This reduces design cost by eliminating multiple designs and reduces costs in purchasing by allowing larger orders from suppliers.  The end result is a more profitable company.  If Renault, Nissan, and Mitsubishi can continue the creation of common platforms and common systems they'll become a strong automotive group.  Up until now Ghosn was the driving force pushing them to do this.

[Parker]

I got burned by a Maxima years ago with engine problems and transmission problems, so I'm off Nissan and vastly prefer Toyota and Honda.  

From a business perspective the Renault, Nissan, Mitsubishi alliance makes sense.  Especially because Ghosn made sure they shared platforms and parts wherever possible to cut costs.  For example almost all the Renault SUV's are really Nissans and I expect them to do the same with Mitsubishi.  In the auto industry size matters because the development and tooling costs are huge.  The more units you can spread those cost over the better.  

In particular this helps with shared platform concepts like Volkswagens MQB and Toyota's New Global Architecture (TNGA), which allows Volkswagen and Toyota to build vastly different vehicle on the same platform.  For example the TNGA is shared by the Corolla, Camry, Avalon, and RAV4.  

In addition you have commonality in shared systems under the skin like wire harnesses, starters, alternators, etc.  This reduces design cost by eliminating multiple designs and reduces costs in purchasing by allowing larger orders from suppliers.  The end result is a more profitable company.  If Renault, Nissan, and Mitsubishi can continue the creation of common platforms and common systems they'll become a strong automotive group.  Up until now Ghosn was the driving force pushing them to do this.

Until he wanted that merger. Nissan, aka the Japanese weren’t having that.
Aside from that, looking back, Nissan made a grave mistake not offering the R32-34 Skylines as Infinitis. Like as an e36 competitor, even though the R32 and R33 Skyline sedans were about 10 inches longer than the e36 sedan. So, the sedan was more of a 5 series competitor. When Nissan did decide to bring the Skyline over and market it as an Infiniti, it was the V35, and it sold very well, and was hailed as a true 3 series competitor. If they had done this years ago ( bringing the Skyline over as an Infiniti), then that would have been more money for parent company Nissan, and they possibly may not have needed to “go steady” with Renault. Possibly. Nissan’s half hearted attempted with Infiniti is only slightly better than Honda’s Acura, and far better Mazda’s attempt

[Palumboism]

Renault’s Board Keeps Carlos Ghosn As CEO And Chairman

Renault’s Board of Directors will keep Carlos Ghosn as CEO and Chairman in the company, following an internal investigation concerning his compensation for the years 2015 to 2018.

The ongoing internal investigation reached a preliminary conclusion that the compensation of Carlos Ghosn from Renault was “ in compliance with applicable law”.

https://www.carscoops.com/2018/12/renaults-board-keeps-carlos-ghosn-ceo-chairman/


Oh this is Award. The Nissan board meetings are set to become real exciting.  Renault still owns 43 percent of Nissan.

Ghosn seems like the the kind of man who does not take kindly to disrespect.As Goodrum would say, It's on like Donkey Kong.