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An expected but important shareholder vote on Monday finally pulled Nissan's board of directors Carlos Ghosn, a former Nissan and Renault executive, struggling Associated press. Ghosn has just been arrested for the fourth time last week in Japan for accusations of financial misconduct on his part at the helm of Nissan.
More than 4,000 shareholders gathered in a Tokyo hotel for the vote, which was part of a three-hour shareholder meeting. Nissan Chief Executive Hiroto Saikawa and other executives took the opportunity to apologize to Nissan shareholders ahead of the vote on Ghosn's dismissal.
"I apologize deeply for all the worries and troubles we have caused," said Saikawa, quoted by AP. "There is an unprecedented and incredible fault on the part of a senior officer."
It was a particularly long and difficult meeting for Saikawa and other leaders, such as AP explains that they were confronted with bitter questions from shareholders about why no one has surprised Ghosn's schemes before:
Angry shareholders have asked for explanations that reprehensible acts on an allegedly massive scale have not been controlled for years. The meeting was closed except for the shareholders but was broadcast.
A shareholder said that all Nissan management should resign immediately. Saikawa said he felt his responsibility was to first address poor corporate governance at Nissan and continue to direct his operations. Another shareholder asked whether Nissan was ready to face a claim for damages, as its share price dropped.
In response, Saikawa referred to an internal investigation by the company that had revealed that the CEO's office simply had too much power and that he wished to use Ghosn's resignation as a "turning point" for the company. the future of the company.
"We had authorized a system to commit wrongdoing without detection," Saikawa told shareholders, quoted by AP.
Notably, Ghosn's sister has been receiving 13-year consulting fees related to the company's investigation.
At least one shareholder, Ken Miyamoto, said Ghosn's numerous successes in helping Nissan recover from a failed bankruptcy might have helped him get out of behind the scenes.
"It's a shame because he was a brilliant manager," said Miyamoto at AP before entering the meeting. "I guess he became complacent as people kept praising him."
The vote in favor of the suppression of Ghosn was greeted with applause. Shareholders also voted in favor of the dismissal of Ghosn's alleged associate in the financial misconduct schemes, former Nissan executive Greg Kelly, of the board of directors.
The shareholders then occupied the seat of Mr Ghosn on the board of directors with Renault SA's new president, Jean-Dominique Senard. Renault owns 43% of Nissan's capital and the two manufacturers are closely linked to Mitsubishi. The alliance has been severely tested by the numerous allegations made against its former joint leader, Mr Ghosn, but Mr Saikawa has once again emphasized Nissan's commitment to the alliance. business at the shareholders meeting.
Ghosn faces numerous charges for under-reporting his salary at Nissan, temporarily transferring his own losses into Nissan's accounts during the 2008 global financial crisis, and making suspicious payments using company funds to companies in the US. Saudi Arabia, Lebanon and Oman. Ghosn and Kelly both maintained their innocence in the ploy in public comment. Ghosn tweeted on the tweet that he "would be telling the truth" about the ploy just before his last arrest. A test date has not been set.
Ghosn filmed new comments on the scandal before his last arrest, which his lawyers would intend to show on Tuesday.
Senard was introduced to the meeting near the end of the meeting, when he reassured shareholders that he would do his best to continue his business as usual, without the outrageous elements. .
"I will devote all my energy to improving the future of Nissan," said Senard to the crowd.
Senard and other executives are facing challenges as they must restore shareholder confidence in the company's ability to avoid such embarrassing scandals in the future.
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