In 1999, Carlos Ghosn created the Nissan/Renault Alliance, to which Mitsubishi was added last year. Three utterly disparate automakers. But Ghosn, apparently, spent a great deal of time looking out for Number One:
Nissan Motors chairman Carlos Ghosn has been arrested and will be dismissed for alleged under-reporting of his income and misuse of company funds, the company said Monday.
The Japanese automaker’s CEO Hiroto Saikawa confirmed that Ghosn was arrested after being questioned by prosecutors following his arrival in Japan earlier in the day.
It was a stunning development that will pose a daunting test for the Nissan-Renault-Mitsubishi alliance, one of the world’s biggest automakers.
The biggest, at least during the first half of 2018, beating out both Volkswagen Group and Toyota.
The Yokohama-based company said the alleged violations involving millions of dollars by Ghosn, 64, and another executive were discovered during a months’ long investigation that was instigated by a whistleblower.
Ghosn’s Renault pay package amounted to a shareholder-approved 7.4 million euro last fiscal year ($8.46 million), with Nissan and Mitsubishi chipping in $6.52 million and $2.01 million, respectively.
I’m pretty sure I could get by on $17 million a year.