Renault-Nissan boss Carlos Ghosn has made the Alliance of the two groups with Mitsubishi one of the leading car manufacturers. Now, however, evidence of a Whistleblower could bring the Manager to the case.
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Financial affair – car Manager Carlos Ghosn in the visor of the investigators
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Financial affair – car Manager Carlos Ghosn in the visor of the investigators
Due to a suspected breach of Japan’s financial rules, the Renault-Nissan chief Carlos Ghosn stands in front of the Japanese car maker Nissan. The managing Director Hiroto Saikawa confirmed that the Top Manager has been arrested. He spoke of a financial failure of the Brazilian-born Manager, has a heavy weight and is not acceptable. He will therefore propose to the Board of Directors to withdraw Ghosn in the chair. Shortly thereafter, Mitsubishi stated that they will propose to the competent body for dismissal Ghosns from the Post of Chairman.
The share of Renault and Nissan declined immediately and sharply. Through the course of slipping Renault has lost nearly three billion euros in market value, in the case of Nissan, it was the equivalent of almost five billion euros.
Nissan and the French government, the main shareholder of Renault, insured immediately, to wish for the continued existence of the corporate Alliance. President Emmanuel Macron said in Brussels that the government would be very vigilant. “It is too early to say anything about the veracity of the Allegations,” he said. To him, no Details are known.
Whistleblower launches investigation
For months Nissan were examined in an employee confidential information that the 64-year-old Ghosn is said to have stated, among other things, his income in the case of the Tokyo stock exchange is too low. As the Japanese news Agency Kyodo reports, he is said to have more than five years, a total of five billion Yen (about 40 million euros) to little. Ghosn is in the case of the Japanese car manufacturer’s Board of Directors, chief and Renault at the same time Chairman of the Board.
During the investigation it comes to the financial management of Ghosn and another Manager. The results would be in addition to error income information further misconduct on the part of Ghosn to the light of day to be carried, including personal use of company property. The Japanese law-enforcement authorities had been informed that the company is cooperating in full. As Nissan reported that the company was by the notes of a whistle-blower on the alleged violations to the attention of.
Strong Three-Way Alliance
Ghosn is one of the most colorful managers in the auto industry. With the Alliance of Renault and Nissan, as well as the Japanese manufacturer Mitsubishi in the 1954 Brazil-born Manager has created a conglomerate, the car with a total of 10.6 million vehicles per year, more People and light commercial vehicles in the year sold as the Volkswagen group. Ghosns contract as Renault boss was only in February to four years of extended.
Better times: Carlos Ghosn unveiled in 2016 in California, a prototype of self-driving cars
Ghosn had taken over in 1999 by Renault, take the head chair at Nissan, to lead the indebted group out of the crisis. In 2005, he took over the helm of Renault. The “cost killer” well-known Frenchman has brought to Nissan after years of high losses and debts back on track.
Renault and Nissan are linked by Cross-shareholdings. While Renault holds 43 percent of Nissan, the Japanese partners, in turn, with 15 percent of Renault. Nissan, in turn, 34 percent of Mitsubishi Motors. At Nissan, Ghosn gave in the previous year, the Post of the Chairman of the Board, to attend more to Renault and Mitsubishi, but remained Chairman. With the accusations the Alliance is now in a serious crisis.
The connection to Daimler
The French car manufacturer is connected via a cross-shareholding of 3.1 per cent, with Daimler. The two companies have brought more than a dozen projects to joint development and production. Share development costs on specific vehicle types, and operate in the Mexican city of Aguascalientes is a common plant. There compact vehicles of the brands Mercedes-Benz and the Nissan brand, Infiniti, will be built. Daimler did not want to comment on the recent operation. Ghosn and Daimler CEO Dieter Zetsche, wants to assign in the coming year, a close business partner.
kle/stu (dpa, rtr, afpe)