July 6, 2020, 10:40

Nissan Board to Appoint New Chairman on Dec 17 After Ex-Chair’s Arrest – Reports

Nissan Board to Appoint New Chairman on Dec 17 After Ex-Chair’s Arrest – Reports

TOKYO (Sputnik) – Japanese carmaker Nissan Motor’s board of directors will appoint a new company chairman at a meeting on 17 December following the recent resignation and arrest of its ex-chairman Carlos Ghosn, the Jiji Press news agency reported.

The company’s acting CEO Hiroto Saikawa has a great chance of being appointed to this post, though, still on a temporary basis, according to the Jiji Press news agency.

The statement comes after Nissan Motor confirmed on 22 November that its board of directors had dismissed Ghosn as its chairman and voted to remove senior executive Greg Kelly.

On 25 November, media reported about the first testimony of Ghosn, who told investigators that he had no intention of concealing his income.

READ MORE: Nissan Ex-CEO Understates Salary by $27Mln, Faces New Criminal Case — Reports

Ghosn was arrested on 19 November over suspicions of financial misconduct, namely, of concealing around 8 billion yen ($71 million) of his income between 2010 and 2017.

Last week, Japanese media also reported that Ghosn was buying expensive real estate in Rio de Janeiro, Paris, Amsterdam, and Beirut worth tens of millions of dollars at the company’s expense. The acquisition of this property was not justified in terms of the needs of the automaker. The company came to the conclusion that in this case Ghosn was required to indicate these expenses in an income declaration, because he used the company’s funds for personal reasons. Kelly had participated in these deals as well.

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