Carlos Ghosn ousted over financial misconduct

[LTLFTcomposite]

Will his successor be more or less aggressive in furthering EVs?

https://www.cnbc.com/2018/11/19/renault ... tions.html

[paulgipe]

Ouch. He's been arrested too.

Agreed. This could have repercussions on Nissan's EV program.

Paul

[RonDawg]

Holy sh.....

Agreed. This could have repercussions on Nissan's EV program.

Not just on Nissan's EV program. It WILL (not just can) have repercussions on the entire Nissan-Renault-Mitsubishi group. Just how severe remains to be seen.

[mwalsh]

Yikes. I always thought he was one of the good guys.

[cwerdna]

If you scroll down to about 5 am of https://www.bloomberg.com/news/live-blo ... llegations, there are entries from the press conference. Unfortunately, I won't have time to read most of this until later tonight.

https://nissannews.com/en-US/nissan/usa ... rlos-ghosn hasn't been updated yet.

I'd read the piece that https://www.titantalk.com/forums/nissan ... rstar.html posted a copy of when it originally was up on detnews.com in 2005.

Agreed w/RonDawg. This is huge and unfortunately, probably not good for the Renault-Nissan-Mitsubishi Alliance. May not be good for the Alliance's EV efforts either.

[cwerdna]

https://www.bloomberg.com/news/articles ... nd=premium has some more details, maybe.

I watched the video that the below refers to...

Separately, the Asahi newspaper -- which was the first outlet to break the news of Ghosn’s arrest -- revealed footage of a private jet with the identification number N155AN being boarded by prosecutors shortly after landing at Tokyo’s Haneda airport on Monday evening.

Ghosn is not seen in the video, which show the jet’s blinds being lowered after suited men board the plane. The car titan -- who is seen by many as the glue holding the alliance between Nissan, Renault SA and Mitsubishi Motors Corp. together -- can be held in custody for up to 23 days without being charged under Japanese law.

[evnow]

This smells fishy. The new Nissan CEO was very evasive when questioned in the press conference. He talked apparently for an hour without giving any actual details of what Ghosn is being accused of. No actual examples of the problematic behavior have been given (that I've seen). So, these could be major conspiracies (worth millions) or minor ones now being used as an excuse to get rid off him.

Multiple outlets are already calling it a palace coup.

[SageBrush]

He is accused of embezzling millions from the company.
As for Nissan's EV plans -- I doubt it matters.

[cwerdna]

I'd read the piece that https://www.titantalk.com/forums/nissan ... rstar.html posted a copy of when it originally was up on detnews.com in 2005.

Carlos Ghosn Was a Superhero in Japan Before His Fall
The former Nissan CEO was celebrated from boardrooms to manga.
https://www.bloomberg.com/news/articles ... e-his-fall

I didn't know that the hero worship supposedly faded in 2016, as the above piece mentions.

[SageBrush]

I didn't know that the hero worship supposedly faded in 2016, as the above piece mentions.

He started losing power a couple of years ago. Perhaps that is when the stealing started.