Nissan calls on Renault to listen them on Ghosn allegations

by SpeedLux
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Nissan Motor’s CEO called on directors at alliance partner Renault to listen its reasons for eliminating former Chairman Carlos Ghosn over alleged financial misconduct in middle of tensions over how to manage the fallout from his arrest.

Renault’s interim chairman Philippe Lagayette stated on Friday that its board was not thinking about replacing Ghosn, who was eliminated by Nissan days following his arrest in Japan in November, as head of the French automaker.

Ghosn has rejected wrongdoing, media reports state, although he has not made any public statements since his arrest.

“We hope the board will listen to our explanation,” said Nissan Chief Executive Hiroto Saikawa to reporters following a board meeting of the Japanese automaker at which it verified plans to strengthen corporate governance after the Ghosn crisis.

Although sources knowledgeable with the matter state Nissan has briefed Renault lawyers on its facts relating to Ghosn’s alleged misconduct, Renault directors have yet to be given access to the complete information.

“We understand that the raw details of the misconduct have yet to reach each of Renault’s board members,” Saikawa said of the allegations against Ghosn.

Nissan stated it has already shared its findings with the board of Mitsubishi Motors, which is the third, junior member of the automaking alliance.

While Nissan is nearly 60 percent bigger by sales, it is the junior partner in their shareholding hierarchy to Renault, which holds a 43.4 percent in its Japanese partner.

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