Nissan chairman Carlos Ghosn is in hot water today, having not only been fired from his position, but arrested for corporate misconduct.
A recent internal investigation of the company found that Ghosn had been lying to Japanese authorities for years about his salary, reporting drastically lower numbers than what he was actually making. Nissan opened its investigation after an anonymous whistle-blower reported Ghosn’s deflated salary reports, as well as using company assets for personal use. Alongside Ghosn, a Nissan director, Greg Kelly, has been accused of similar misconduct and taken in alongside him.
During his tenure at Nissan, Ghosn was hailed as a hero of sorts, making quick cuts, changes, and closes that saved the company from financial collapse. He was widely considered to be a prime example of how foreign leadership and influence can be beneficial to Japan, whose economy tends to be very insular. In a quote to The New York Times, foreign consulting specialist Pernille Rudlin said “He’s always the go-to when people say foreigners can never succeed in Japan. Now there are no good examples left.”
Nissan is cooperating with Japanese prosecutors on the case, and has issued a formal apology to shareholders and stakeholders.
