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Report: Ghosn Failed to Report $45 Million in Compensation
Chairman Carlos Ghosn reported only half the 10 billion yen ($89 million) he was paid by Nissan Motor Co. between 2011 and 2016, The Nikkei reports.
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Chairman Carlos Ghosn reported only half the 10 billion yen ($89 million) he was paid by Nissan Motor Co. between 2011 and 2016, The Nikkei reports.
Prosecutors who arrested Ghosn yesterday say he understated his compensation and committed “numerous other significant acts of misconduct” over the period. The carmaker says that the “deep involvement” in the scheme by Greg Kelly, the Nissan board director responsible for human resources, has been confirmed.
Both men are expected to be dismissed by the Nissan board on Thursday. CEO Hiroto Saikawa blames the scandal on too much concentration of power. He vows that Nissan will take steps to prevent a recurrence.
Financial reports by members of the Renault-Nissan-Mitsubishi alliance for the fiscal year that ended March 31 indicate Ghosn received a combined $17 million in compensation for the 12-month period. The payout consisted of 735 million yen ($6.5 million) from Nissan, 227 million yen ($2 million) from Mitsubishi and €7.4 million ($8.5 million) from Renault.
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