TOKYO (Pakistan Point News / Sputnik - 08th April, 2019) Japanese automobile corporation Nissan held on Monday an extraordinary meeting of its shareholders, who decided to dismiss the company's former chairman, Carlos Ghosn, who has been marred by a financial misconduct scandal, from the board of directors and replace him with Jean-Dominique Senard, the chairman of Renault.
The meeting was held in Tokyo, lasting for almost three hours, and was attended by 4,119 shareholders.
"At the meeting, shareholders approved all the resolutions: Item 1: Discharge of director Carlos Ghosn; Item 2: Discharge of director Greg Kelly; Item 3: Appointment of Jean-Dominique Senard as director, on the condition that Item 1 is approved," the corporation said in a press release published on its official website.
Thus, both Ghosn and his right hand, Kelly, who has been targeted by the investigation into the former executives' presumed failure to properly report around $44 million worth of Ghosn's income, have been dismissed from all their posts. After the arrest, Ghosn was dismissed as Nissan chairman. However, the former chairman's unreported income may reach over $70 million.
Ghosn and Kelly were initially arrested last November, and both were later released on bail, although Ghosn had to spend in custody more than three months, as the prosecution served him with two more arrest warrants in December so as to keep him under arrest without a trial.
Last week, however, Ghosn was unexpectedly served with his fourth arrest warrant and brought back to a detention facility in Tokyo, facing new charges related to his alleged misuse of Nissan funds.
In particular, the former executive is accused of inflicting a $5 million loss to Nissan by transferring a part of money, which Nissan's subsidiary in the United Arab Emirates paid to an Omani distributor, to a firm that is controlled by his wife.
Both Nissan and Renault are a part of the Renault-Nissan-Mitsubishi alliance, where Ghosn also served as its chairman and CEO.
