Nissan's board has ousted Chairman Carlos Ghosn following his shock arrest for alleged financial misconduct.
ADVERTISEMENTNissan's board has ousted Chairman Carlos Ghosn following his arrest this week on suspicion of financial misconduct, the Japanese company has confirmed.
The board voted unanimously on Thursday to remove the 64-year-old Brazilian–French businessman, leaving the chairman position vacant.
The board also voted to remove Greg Kelly, who was arrested for conspiring with Ghosn, from his post as representative director.
The move ushers in a period of uncertainty for Nissan's 19-year alliance with Renault, which Ghosn has been central too.
While working for Renault in 1999, Ghosn helped the French brand to acquire 36% of Nissan.
The following year, while still retaining his job for Renault, he took on the role of Nissan CEO.
Read: Who is Carlos Ghosn: the car industry's expensive 'cost killer'?
At the time of his arrest in Tokyo on Monday, he had been pushing for deeper ties, including potentially a full Renault-Nissan merger.
Japanese prosecutors say Ghosn had conspired with Kelly to understate his income, saying it was about half the actual 10 billion yen (€77 million).