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Carlos Ghosn was fired from his position as president of Mitsubishi Motors a week after the arrest of the auto mogul, accused of under-reporting his multi-million dollar income, a crime punishable by 10 years imprisonment.
Seven of the eight members of the Mitsubishi Board of Directors, a member of an industrial alliance created by Ghosn and also including Renault, held a special meeting Monday to decide his fate a few days after the sacking from Nissan to the presidency.
Ghosn, who allegedly He also denied these accusations, according to Japanese media.
Mitsubishi announced that its general manager, Osamu Masuko, would become acting president.
Ghosn, 64, was once hailed as a visionary after rescuing Nissan from bankruptcy in the 1990s by leading his alliance with Renault. Nissan then took a 34% stake in Mitsubishi, which employs more than 30,000 people in 2016.
The group has become the world's largest automaker, with approximately 10.6 million vehicles coming off the production line last year. It employs around 450,000 people worldwide.
While Nissan pledged to maintain its ties with Renault, reports in Japan claimed Nissan's managers were disrupted by Ghosn's plan to turn the alliance into a full-fledged merger.
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