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On the basis of an alert launcher report, Nissan Motor Co., Ltd. (Nissan) has been conducting an internal investigation over the last few months regarding a fault involving the company's representative and chairman, Ghosn Ghosn, and the director's representative, Greg Kelly.
The investigation showed that, for many years, Ghosn and Kelly have declared in the Tokyo Stock Exchange Report compensation amounts lower than the actual amount, in order to reduce the amount disclosed of Carlos Ghosn's remuneration.
As for Ghosn, many other serious mistakes were also discovered, such as the personal use of the company's assets, and Kelly's deep involvement was also confirmed.
Nissan provided information to the Japanese prosecutor and cooperated fully with their investigation. We will continue to do so.
The misconduct found in our internal investigation is a blatant breach of directors' duty of care, Nissan CEO Hiroto Saikawa will propose to the Nissan Board of Directors to remove Ghosn from his position as Chairman and Director. . Saikawa will also propose the removal of Greg Kelly from his position as Executive Director.
Nissan deeply apologizes for deeply worrying our shareholders and our stakeholders. We will continue our work to identify our governance and compliance issues and to take appropriate action.
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