Nissan panel puts off selection of successor to Carlos Ghosn

Carlos Ghosn Renault-Nissan

A Nissan Motor panel on Tuesday failed to nominate a successor to Carlos Ghosn as chairman following his arrest and dismissal for alleged financial misconduct in November, a source knowledgeable with the situation informed Reuters.

Ghosn could remain in detention until the end of this year as Tokyo prosecutors prepare to rearrest him on a new claim of understating his earnings, the Sankei newspaper has reported.

Nissan has tasked a three-member panel of external directors to select a new chairman. The panel consists of Masakazu Toyoda – a former trade and industry official, Jean-Baptiste Duzan – a former executive from Nissan’s French partner Renault, and race car driver Keiko Ihara.

The panel prepares to submit the name of a nominee at a board meeting on December 17. Board changes will have to be authorized by shareholders.

The panel did not talked about any particular executive as a nominee at its meeting on Tuesday, the source stated, adding the selection was delayed because Duzan asked for more time.

Two other people with understanding of the matter stated Renault’s board was meeting on Wednesday to talk about the leadership crisis.

Ghosn was eliminated from the position at Nissan and third alliance partner Mitsubishi Motors following his arrest on November 19.

Some Nissan executives have long been dissatisfied with what they see as Renault’s outsized influence on the Japanese automaker, which beats Renault in vehicle sales.

Renault owns 43 percent of Nissan, while Nissan’s 15 percent stake in its partner has no voting rights.

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