Renault – Page 1061 – I wish I had more to offer

Board of Directors communication

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Groupe Renault communication

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American Greg Kelly called 'mastermind' of alleged Ghosn abuses at Nissan

American Greg Kelly called 'mastermind' of alleged Ghosn abuses at NissanA Nissan Motor Co. executive who was arrested Monday along with the company's chairman has been with the company for 30 years.
Nissan representative director Greg Kelly was also the first American to sit on the Japanese carmaker's board of directors.
Company officials said Monday chairman Carlos Ghosn was arrested and will be dismissed for alleged under-reporting of his income and misuse of company funds.
Officials also said Kelly was the “mastermind” of the alleged abuses.
Kelly joined the company's American subsidiary, Nissan North America Inc. in March 1988 as a senior manager and associate legal counsel, according to the company.
He was named director of human resources at the company five years later.
Kelly held various positions at the company until he became representative director, senior vice president in June 2012. He's been a Nissan representative director since February 2015.
He earned a bachelor's degree in public administration from Augustana College in Rock Island, Illinois. He also has a law degree from the Loyola University School of Law, according to Nissan.
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Mitsubishi will propose removing Ghosn from board

Marlene Awaad | Bloomberg | Getty Images
Carlos Ghosn, chairman of the alliance between Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp., pauses during a Bloomberg Television interview at the Paris Motor Show in Paris, France, on Tuesday, Oct. 2, 2018.

Mitsubishi will propose removing embattled executive Carlos Ghosn from its board of directors, the company said Monday.

Ghosn, who is chairman and CEO of the strategic alliance among French automaker Renault and Japanese carmakers Nissan and Mitsubishi, was arrested Monday in Tokyo on charges of making misleading financial statements to regulators, Mitsubishi said Monday.

Nissan CEO Hiroto Saikawa held a press conference earlier on Monday saying Nissan would seek Ghosn's removal from his roles at Nissan.

Nissan said a whistleblower alerted the company to several instances of alleged misconduct on Ghosn's part, including underreporting compensation to regulators and personal misuse of company money.

In addition to being chairman and CEO of the alliance, the chairman of Nissan, and a board member at Mitsubishi, Ghosn is also the CEO of Renault.

Ghosn began spearheading the alliance between Renault and Nissan in the late 1990s. Many industry veterans were skeptical that an alliance between a French car company and a Japanese carmaker would ever work. But the initiative was successful, and the two were joined by Mitsubishi in 2016.

Here is the full statement from Mitsubishi:

“Mitsubishi Motors Corporation (MMC) today announces that media outlets reported that MMC's Chairman of the Board and Representative Director, Carlos Ghosn, had been arrested by Tokyo District Public Prosecutors Office on the charge of filing annual securities reports containing fake statement, in breach of the Financial Instruments and Exchange Act.
“In response to the arrest of Ghosn, and since the alleged misconduct is related to a corporate governance and compliance issue, it is to be proposed to the Board of Directors to promptly remove Ghosn from his position as MMC's Chairman of the Board and Representative Director.
“We will readily conduct an internal investigation on whether Ghosn has been engaged in the misconduct like the above within MMC.
“MMC deeply apologizes for any concern caused by the recent event.”

Press release from Renault’s lead independent Director and committee chairs

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Kia dealer network sees 5% rise in profitability

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