Watch: Chief Executive of Nissan apologises for Ghosn misconduct

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By Sinead Barry
NISSAN YOUTUBE/NO RESALE   -  Copyright  Nissan Youtube and Reuters

Hiroto Saikawa, chief executive of Nissan Motor Co Ltd, issued a public apology to shareholders regarding the fallout of a misconduct scandal involving the company's former chairman, Carlos Ghosn.

"I would like to deeply apologize to our shareholders for the financial misconduct and the serious wrongdoing by our former executives last year," he said.

Shareholders at the company were due to vote on a new governance structure and member board when Ghosn, who was chairman at the time, was arrested over allegations of financial misconduct. Ghosn denies all accusations against him.

His arrest shook the automaking company and shed light on the auditing failures of the organisation. The scandal also threw the future of Nissan's partnership with Renault SA into doubt.

"We would like to apologise for any inconvenience caused by the financial misconduct," said Saikawa at a shareholders meeting, bowing deeply in unison with the members' board.