Nissan boss arrested

High-profile Nissan chairman Carlos Ghosn has been arrested and looks set to be removed from his position, following an internal investigation alleging acts of misconduct.

The investigation found Ghosn – dubbed the “Father of the Nissan Leaf” as an early advocate of electric and autonomous vehicles – and representative director Greg Kelly have been “reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount”.

That reduced the disclosed amount of Carlos Ghosn’s compensation, Nissan says.

The investigation also found Ghosn used company assets for personal use.

“Nissan has been providing information to the Japanese Public Prosecutors Office and has been fully cooperating with their investigation. We will continue to do so,” the company says.

Nissan chief executive Hiroto Saikawa is set to recommend the board remove Ghosn as chairman and director and Kelly as a director.

“Nissan deeply apologises for causing great concern to our shareholders and stakeholders. We will continue our work to identify our governance and compliance issues, and to take appropriate measures.”

Ghosn oversaw the formation and growth of automotive alliance Nissan, Renault and Mitsubishi, which also became an early leader in EVs and hybrids.

Renault, which Ghosn also chairs, is expected to have an emergency meeting shortly.