Carlos Ghosn, Nissan chairman, arrested for financial misconduct

[bob10]

Carlos Ghosn, Nissan’s Chairman, Is Arrested Over Financial Misconduct - The New York Times (https://www.nytimes.com/2018/11/19/business/nissan-carlos-ghosn-misconduct.html?emc=edit_na_20181119&nl=breaking-news&nlid=84534669ing-news&ref=cta)

[DiscoMick]

Nissan chairman arrested on suspicion of 'financial misconduct'
Nissan chairman arrested on suspicion of 'financial misconduct' - ABC News (Australian Broadcasting Corporation) (http://www.abc.net.au/news/2018-11-19/nissan-ceo-arrested-on-allegations-of-serious-misconduct/10512736)

[DiscoMick]

I didn't realise the world's biggest car group isn't Toyota or VW, it's Nissan Renault Mitsubishi.

[101RRS]

While Nissan and Renault have been in "alliance" for many years, I did not think they were in alliance with Mitsubishi. Other than having the same Chairman where does this alliance show up as far as Mitsubishi is concerned.

Garry

[loanrangie]

I knew Mitsi and Puegot shared some platforms but not aware they were in bed with Nissan as well.

[DiscoMick]

Renault–Nissan–Mitsubishi Alliance - Wikipedia (https://en.m.wikipedia.org/wiki/Renault%E2%80%93Nissan%E2%80%93Mitsubishi_Alliance )
Nissan owns Mitsubishi.

[bee utey]

Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in its smaller Japanese rival, Mitsubishi.

Future of Nissan-Mitsubishi-Renault alliance after Ghosn's arrest (https://www.cnbc.com/2018/11/20/nissan-and-mitsubishi-stocks-movements-after-ghosns-arrest.html)

[DiscoMick]

Carlos Ghosn no longer able to lead Renault, says French minister

Carlos Ghosn no longer able to lead Renault, says French minister | Business | The Guardian (https://www.theguardian.com/business/2018/nov/20/carlos-ghosn-renault-nissan-arrested-japan?CMP=Share_AndroidApp_Copy_to_clipboard)

[3toes]

Think this is partly pay back against the French government. When the alliance was set up Renault was supported by the French government and used this to go in with Nissan who were also in trouble. Politically neither government could allow a take over so the alliance was set up. Renault owned a larger slice of Nissan than Nissan did of Renault. The revitalisation of the 2 businesses was based around Nissan engineering which resulted in Renault taking a back seat in this area as Nissan were far better at it. Combined group is reliant on Nissan engineering so
Nissan probably feels they have less to lose.

At the top Renault has most of the votes. Nissan wanted to move the top table to a parity position which was blocked by the French government who borrowed enough shares to increase their ownership so they could vote this down at the meeting.

Having worked for large Asian companies the kind of behaviour in the press is typical of people of rank in their corporate worlds. Legality of it is another question which is where he may come unstuck.