Nissan Chairman Arrested

business_ethics_highlights_2Here’s a story of corruption at the highest levels of the automotive industry. How did Ghosn think he could get away with it? Was it simply because he was accustomed to succeeding at things, and not used to people telling him ‘no’?

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LINK: Nissan Chairman Carlos Ghosn Arrested, Expected to Be Fired (by Clifford Atiyeh for Car and Driver)

Carlos Ghosn is all but gone from Nissan. The high-profile Renault, Nissan, and Mitsubishi chairman and Renault CEO was arrested Monday in Tokyo and charged with underreporting his income in corporate filings, according to Japanese broadcaster NHK.

Nissan said a whistleblower tip launched an “internal investigation over the past several months” regarding improper conduct involving Ghosn and Greg Kelly, a high-ranking board member with the power to sign contracts on behalf of the company. Their investigation, in conjunction with the Japanese Public Prosecutors Office, found that both men underreported their compensation in Tokyo Stock Exchange filings “over many years,” Nissan said in a statement. According to NHK, for the total of the past five fiscal years ending in March 2015, Ghosn reported “less than five billion yen” ($44 million at today’s rates) when it was actually almost twice that amount. Without elaborating, the company also alleged Ghosn took advantage of “company assets” for his personal use. ….

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