Nissan to fire Ghosn, financial misconduct.

Status
Not open for further replies.
He had a good run. These personalities tend to think themselves above the law, at a level that allows them to do as they see fit. He was probably used to this approach with the running of the company and thought this would be applicable to all his other affairs.
 
Originally Posted by KGMtech
He had a good run. These personalities tend to think themselves above the law, at a level that allows them to do as they see fit. He was probably used to this approach with the running of the company and thought this would be applicable to all his other affairs.
If you have the money for a strong legal defense and are well connected they may not be above the law, but they are a lot closer to it than you or I. I think a lot of the time this stuff gets covered up for PR reasons, and the person just resigns with no penalties. I guess they really wanted to make an example of a foreign executive.
 
Now they need to arrest everyone that helped him get away with it- but that would be even more scandalous.

Look for "early retirement" from other top execs.

Sad.

Never understood this mentality but Ive seen it many times in my career.

You have a top paying gig as is - rather than find a way to earn more the right way (which is easy when you have money) - steal from the hand that feeds you.

UD
 
Originally Posted by UncleDave
Now they need to arrest everyone that helped him get away with it- but that would be even more scandalous.

Look for "early retirement" from other top execs.

Sad.

Never understood this mentality but Ive seen it many times in my career.

You have a top paying gig as is - rather than find a way to earn more the right way (which is easy when you have money) - steal from the hand that feeds you.

UD






Another executive was arrested also. I agree that there may be more.

The salary structure should be looked at. Getting salaries from each of the three members of the alliance versus just one salary seems to be a starting place for reform. Ghosn also missused company assets for his personal use. He seems to be a jet setter and his expensive Davos style may have been his undoing.

It will be interesting to watch this play out. As the famous saying goes, all glory is fleeting.
 
Quoting current Nissan CEO Hiroto Saikawa, a position Ghosn also held until April 1 2017, "too much power had been concentrated on Ghosn". In this case a common phrase appears applicable, power corrupts, absolute power corrupts absolutely.
 
The racing media is reporting it as well. I have no problem with someone collecting three salaries, if that's appropriate for what he's doing. Lots of CEOs sit on other boards and so forth. Now, you had better be doing the work for which you're paid and be appropriately reporting your income for the jurisdiction(s) involved. He should just have lived in Monaco. Look how many drivers do it.
wink.gif
 
We can't be too quick to judge. Maybe there was a pizza party for employees, and Ghosn didn't like a topping on one of the pizzas. Plus the job was cutting into his TV watching time.

So he decided to get even...
crackmeup2.gif
 
Originally Posted by 02SE
We can't be too quick to judge. Maybe there was a pizza party for employees, and Ghosn didn't like a topping on one of the pizzas. Plus the job was cutting into his TV watching time.

So he decided to get even...
crackmeup2.gif





The scuttlebutt is that his family enjoyed lavish vacations worldwide including at their choice of four homes that RNM purchased for him. All this on company € or ¥ and not disclosed. Ghosn greatly underreported his income by half according to some stories.

This guy loved to ham it up with his Davos friends but little of it was business.
 
Nissan will be holding a board meeting in a few hours to decide Ghosn's fate as chairman. I suspect he will be ousted and a new chairman appointed as well as deciding the fate of several other managers.

https://www3.nhk.or.jp/nhkworld/en/news/20181122_09/


The bigger question is whether Nissan-Mitsubishi will depart from the alliance and let Renault hang. The French government is pushing to keep the alliance intact. Reading between the lines, the French government wants the big pockets of the Japanese automakers involved. Can Renault survive on its own?

It will be interesting to see how this plays out. I suspect that Nissan-Mitsubishi does not need Renault.
 
Both Nissan and Mitsubishi have voted to fire Ghosn. Renault and France are holding off. Ghosn is denying the charges but the evidence is overwhelming.
 
So far, it seems that the evidence is only in the hands of Nissan, the Japanese authorities, and perhaps Mitsubishi (based solely on their vote to remove Ghosn). According the Renault and Emmanuel Macron's office, the French have yet to see any evidence of wrongdoing.
 
Wow, Nissan/Mitsu better hope he gets fired after this! And on so many levels too. Ghosn destroyed the Nissan spirit and turned it into a real lady of the night time for sales over everything else. Reporting Ghosn is a crook really surprises me; that anyone could have thought differently. Now let's talk about German parts cartels and general EU antitrust affairs
 
Originally Posted by PeterPolyol
Wow, Nissan/Mitsu better hope he gets fired after this! And on so many levels too. Ghosn destroyed the Nissan spirit and turned it into a real lady of the night time for sales over everything else. Reporting Ghosn is a crook really surprises me; that anyone could have thought differently. Now let's talk about German parts cartels and general EU antitrust affairs




Both companies have stated that they want to keep the alliance with Renault intact but I wonder if that is just posturing? Behind closed doors I bet the sentiment is the opposite. Nissan/Mitsubishi should go on their own way. Renault's position is under fire and it's not surprising that the French are trying to downplay this event.
 
Oh yeah totally predictable response from the French govt. Probably spot on about how Nissan/Mitsu feel about it all but what can they do now? Think of all the capital tie-ups these companies have now. They all? bet the farm on this EV collaboration and they're at a reasonably advanced stage. Be interesting to see how they proceed now
 
Status
Not open for further replies.

Similar threads

supton
F9F vs MiG-15s
Replies
7
Views
2K
supton
wemay
  • Locked
Nissan pays $2.2b for 34% stake in Mitsubishi
2
Replies
24
Views
5K
SkyActivG
Shannow
  • Locked
Renewables Experiment in Oz - keep watching
2 3 4
Replies
78
Views
13K
Shannow
D
  • Locked
Fake solutions to non-existent problems-exposed
Replies
5
Views
2K
Bill in Utah
dave1251
  • Locked
Exxon Mobil
Replies
19
Views
13K
MolaKule
Back
Top