Nissan aims to nominate new chairman by next month after Ghosn’s ouster

Nissan Motor is intended to nominate a new chairman under a month or two, hopefully before its next board meeting slated for around December 20, a source knowledgeable with the matter stated, after the automaker ousted Carlos Ghosn as chairman on Thursday.

The nomination will be carried out by the Japanese automaker’s newly created advisory committee that consists the company’s three independent directors.

The new chairman would hold the post at least until Nissan’s upcoming shareholder meeting. No decision regarding an extraordinary shareholder meeting has been made, the source said. The next regular meeting is expected in June next year.

Another special committee headed by the independent directors to talk about enhancing governance based on third-party advice will then likely propose setting up a nomination committee to select a permanent chairman, included the source, who refused to be identified due to the sensitivity of the matter.

“It’s a two stage process,” the source stated. “First we have to decide on a temporary chairman as soon as possible.”

Nissan was not immediately available for discussing the matter on Friday, a public holiday in Japan.

Nissan’s board voted unanimously to eliminate Ghosn, who was arrested on Monday over allegations of financial misconduct consisting of under-reporting of his earnings and personal use of company assets.