Nissan shareholders set to oust Carlos Ghosn from board

Nissan shareholders are expected to expel former chairman Carlos Ghosn from its board, as Ghosn's wife pleas to the French government for help.

Carlos Ghosn end of the road Source: Shutterstock

The shareholders’ meeting in Tokyo comes in response to Ghosn’s arrest on November 19, 2018, which had also lead to him being fired by Nissan, putting an end to nearly two decades of his leadership.

The 65-year-old is fighting multiple charges of financial misconduct that have landed him in custody.

Extraordinary shareholders’ meeting

The meeting on Monday will see shareholders voting to remove Carlos Ghosn from the board, and on his replacement by Renault Chariman Jean-Dominique Senard.

The extraordinary meeting is the first of its kind in many years and is necessary to officially remove Ghosn from the board, despite being fired from his position previously.

Ghosn’s charges

Ghosn is fighting three charges, with two relating to the alleged delay of $80 million in income, which had allegedly been concealed in official documents to shareholders.

Ghosn also faces charges for attempting to transfer personal losses to Nissan, and allegedly paying a contact in Saudi Arabia for collateral from company funds.

Most recently, prosecutors arrested Ghosn last week over allegedly transferring money to a dealership in Oman, and siphoning off millions of dollars on personal expenses, including a luxury yacht.

It comes less than a month after he won bail after paying $9 million to secure his release.

Ghosn’s wife pleas to France for help

Ghosn has been interviewed by France’s TF1 television channel where he voiced fears that he wouldn’t be given a fair trail.

‘It's obvious it's a plot,’ Ghosn said, adding: ‘Everything needs to be put on the table. Of course, I have names. Some of them you have seen in the press, but there are others that haven't been in the press.’

Meanwhile, Ghosn’s wife left Japan and flew to Paris on Sunday, to appeal to the French government to do more according to a Financial Times report.

‘I think the French government should do more for him. I don't think he's had enough support and he's calling for assistance. As a French citizen, it should be a right’, Carole Ghosn told the FT in an interview on Friday.


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