Nissan shareholders approve the ouster of former chairman Carlos Ghosn from its board.
Nissan logo is seen at the automaker's showroom in Tokyo, Monday, April 8, 2019. Nissan Chief Executive Hiroto Saikawa has apologized to shareholders for the unfolding scandal at the Japanese automaker and asked for their approval to oust from the board former Chairman Carlos Ghosn, who has been arrested on financial misconduct charges.
Ahead of the vote, Nissan’s top executive apologized to its shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn’s dismissal. Senard, introduced to shareholders at the meeting’s end, thanked them and promised to do his best to keep the automaker’s performance on track.They likewise also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct.
“I deeply, deeply apologize for all the worries and troubles we have caused,” Saikawa said. “This is an unprecedented and unbelievable misconduct by a top executive.” He has been charged with under-reporting his compensation in financial documents, and with breach of trust in having Nissan shoulder investment losses and making suspect payments to a Saudi businessman. Ghosn says the compensation was never decided on or paid, no investment losses were suffered by Nissan, and the payments were for legitimate services.
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