Nissan chairman Carlos Ghosn has been arrested and will be dismissed after the Japanese automaker uncovered “significant acts of misconduct,” including underreporting his own salary to the Tokyo Stock Exchange of more than $40 million over five years and using company assets for his personal benefit.
Nissan said it conducted an internal investigation for several months based on a report from a whistleblower. Findings were shared with public prosecutors for their own parallel investigation.
“The concentration of power in one individual,” as well as Ghosn’s “long reign” at the automaking conglomerate, impacted operations and could have been factors in allowing the misconduct to take place,” Saikawa, the Nissan CEO said.
Read the article at The Washington Post.
The post Nissan says Chairman Carlos Ghosn Arrested for Financial Misconduct appeared first on Fleet Management Weekly.
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