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Fear and Trembling: Carlos Gohsn arrested in Japan

Carlos Ghosn: Nissan scandal slams brakes on cost killer's career

Carlos Ghosn was, until Monday, a titan of the global car industry. The first person to lead two Fortune 500 companies at the same time, he also enjoyed an almost unique position as a foreign chief executive of a major Japanese company - even gaining the honour of a manga comic book version of his life and rice sculptures of his face in bento lunchboxes sold to Japanese businessmen.

Yet in a remarkable development which has shocked the automotive industry, Ghosn will now be dismissed by Nissan on Thursday after alleged financial irregularities. Nissan did not hold back in its statement on Ghosn, accusing him and a senior colleague of "significant acts of misconduct" including understating his pay to regulators and misusing company assets. Renault and Mitsubishi Motors, both of which Ghosn also chairs, have yet to respond.

Ghosn has attracted more and more controversy for his inflated pay packages and his refusal to share power at the three car manufacturers he's been leading.

by Bernard on Mon Nov 19th, 2018 at 09:02:28 PM EST
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