Nissan Calls Shareholder Meeting to Remove Ghosn, Kelly

Nissan Motor Co. plans an extraordinary shareholder meeting in mid-April to formally discharge board members Carlos Ghosn and Greg Kelly.

The board also will name Ghosn’s replacement, a candidate to be nominated by alliance partner Renault SA. Ghosn had remained as Renault’s chairman and CEO until he resigned both jobs yesterday.

Ghosn was removed as Nissan’s chairman in November a few days after his arrest on suspicion of financial wrongdoing. Kelley, who was arrested on the same day, faces similar charges. Ghosn remains in custody as he awaits trial in Japan several months from now. Kelly was released on bail on Dec. 25.

Nissan’s vote on directors will reduce the board to eight from nine. The carmaker says it has no immediate plan to name a Nissan-nominated director to replace Kelly.

It isn’t clear when or if Nissan will choose a replacement chairman. A board committee isn’t expected until April to recommend a candidate from among the existing directors. Reports say Renault, which owns 43% of Nissan, wants to appoint the new chairman.