Nissan team meets to overthrow Ghosn savior



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Nissan team meets to overthrow Ghosn savior
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AFP
/ Martin OFFICE

The board of directors of the Nissan auto giant met on Thursday to lay off its iconic chairman Carlos Ghosn, detained in Tokyo for alleged maleficence, a hitherto unimaginable lapse for the man who saved the Japanese manufacturer.

The meeting began around 07:00 GMT at the group's headquarters in Yokohama, a suburb of the Japanese capital.

Behind the closed doors, six men and a woman will decide the future of Nissan from the all-powerful head of the world's leading car Renault-Nissan-Mitsubishi Motors, whose life suddenly shook when their plane crashed. Monday in Japan.

Carlos Ghosn, who was arrested, has since remained silent in his cell at a detention center in Tokyo while his government is in tatters.

Nissan, a company where its formidable empire-building epic began in 1999, is poised to kill it, taking its title from chairman.

According to a source close to management, any other scenario is unlikely. "The proposal would not have been put to a vote if there were any questions," she breathes.

Freehand

Hiroto Saikawa, chief executive of the manufacturer since April 2017, will lead the discussions. The decision will be made by the hand demonstration. Four votes will be enough to expel the master.

His acting replacement should be named, presumably Mr. Saikawa, Ghosn's former dolphin who led Monday's indictment of startling violence against his former mentor.

Officially, Franco-Libano-Brasileiro is accused of having, with accomplices, "minimized its pay five times between June 2011 and June 2015," declaring to financial services a total sum of 4.9 billion yen (approximately 37 million of euros) instead of almost 10 billion yen.

"This kind of misrepresentation is one of the most serious mistakes in the legislation imposed on listed companies," Tokyo deputy prosecutor Shin Kukimoto told reporters on Thursday.

However, he did not want to give details of the ongoing investigation or the number of hours of hearings held each day, such as the revelations in the Japanese media about the tycoon's mistakes. 64.

Mr. Ghosn is also suspected of abusing assets, according to the results of Nissan's internal investigation in recent months, but he is not detained on this charge.

On Wednesday, the court decided to extend its custody for 10 days to continue the investigations. And their detention could extend far beyond that, under the rules of the Japanese judicial system.

The powerful businessman received visits from the French ambassador and the Brazilian consul, who found him "in good shape."

The Nissan Group, as a legal entity, may theoretically also be sued, said the prosecution's representative.

On the side of other members of a strong alliance of 450,000 men, Mitsubishi Motors (MMC) also plans to "quickly dispense" its president. A council is scheduled for next week, according to a company spokeswoman.

A merger under discussion?

At Renault, caution is in order. The board asked Nissan "to send him all the information in his possession as part of the internal investigations of which Mr. Ghosn was the subject."

Believing he could not decide on the merits of the case, the French manufacturer took measures to ensure the interim, entrusted to the company number two, Thierry Bolloré.

The French government was trying on Wednesday to be reassuring about the future of the diamond maker, which the state holds 15%.

The Minister of Economy, Bruno Le Maire, thus assured the press in Paris that sound "but" provisional "governance was in place to allow the French manufacturer to continue its activities.

He will meet with his Japanese counterpart Hiroshige Seko on Thursday afternoon to discuss the long-term nature of the partnership and its "extension."

If in Japan, the observations are quiet surfaces for the alliance, the local press noise of anonymous statements from Nissan officials who claim that the group wants to revise the structure of this, "necessary condition for it to continue," according to one of them .

One of the goals would be to change cross-ownership: Renault holds 43% of Nissan, but Japanese, which dominates its ally in terms of turnover, has only 15%, a situation that has a grudge time in the archipelago.

According to the Nikkei business newspaper, quoting a Nissan executive, Carlos Ghosn sought to integrate the two groups and "it was possible that a concrete plan would be ready next spring," a merger scenario openly rejected by Saikawa.

11/22/2018 10:37:51 –
Tokyo (AFP) –
© 2018 AFP

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