business

Nissan shareholders to vote on removing Ghosn from board

23 Comments
By Miwa Suzuki

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23 Comments
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How ironic, get major press coverage about Ghosn's re-arrest prior to a stock holder's meeting that will have a vote to oust the "criminal" from their midst!

I mean it doesnt get much better than this, you want to talk about collusion, looks like a textbook example!

-11 ( +11 / -22 )

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It was already a given that Ghosn would be removed. The re-arrest had nothing to do with it.

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.Renault also has already decided to remove Ghosn as Director later this year in June Shareholders meeting .

{Renault is also working with French prosecutors @ significan misappropriation of funds).

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Renault shareholders are the majority and they WILL want to know where their money went !!!!

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15 ( +21 / -6 )

No surprise here. Everything has been orchestrated to this end.

Including making the nomination of the Renault Chairman as a Director of Nissan conditional upon Ghosn's removal as Director.

-8 ( +8 / -16 )

How ironic, get major press coverage about Ghosn's re-arrest prior to a stock holder's meeting that will have a vote to oust the "criminal" from their midst!

I mean it doesnt get much better than this, you want to talk about collusion, looks like a textbook example!

Absolutely.

-10 ( +8 / -18 )

I would just like to reiterate at this point that this man had not been found guilty of ANYTHING as of yet...

Japanese justice, and many facets of Japanese society and politics, are corrupt to the core! The world is starting to see just how deep it goes.

NB: if found guilty in a fair trial would expect that him (and all parties involved) to be punished accordingly. Not before.

-1 ( +15 / -16 )

 a vote to oust the "criminal" 

Just a vote to oust a person that has not had the class of resigning. A minimum of common sense would have told him to either leave Nissan in 2005 or to not take Renault's position then.

8 ( +16 / -8 )

I hope they keep him on, if only to freak out Nissan even more

-4 ( +9 / -13 )

Thanks for turning around our company and creating massive wealth for us. Now go to jail!

Will be interesting to see Nissan's performance now which is ALL on Saikawa.

-9 ( +7 / -16 )

If you own a McDonald’s franchise and you find your employee of the month has been stealing money from the till for 10 years, would you fire them?

9 ( +16 / -7 )

Hey I saved this company. So now it belongs to me and all its wealth is mine.

8 ( +14 / -6 )

Yeah thankfully criminals aren't allowed on boards here, unlike in other countries. His wife's cowardly flight from justice guarantees that he won't get bail ever again. Couldn't have asked for better news!

2 ( +13 / -11 )

@Goodlucktoyou: If you own a McDonald’s franchise and you find your employee of the month has been stealing money from the till for 10 years, would you fire them?

A poor analogy. More like the store manager who tripled your sales, cut costs and saved you from going out of business, and who is then ACCUSED of skimming the till by an incompetent and racist assistant manager named Saikawa.

-4 ( +10 / -14 )

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Reckless : A poor analogy. More like the store manager who tripled your sales, cut costs and saved you from going out of business, and who is then ACCUSED of skimming the till by an incompetent and racist assistant manager named Saikawa.

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Embezzling is never OK - no matter how much one contributed to the company!

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Lest all you 6-packers forget, Ghosn only "built' Nissan by ruthlessly firing 20,000 workers, closing 3 factories.

There was very little ingenuity on Ghosn's part involved in the early bounce back out of the 'red'.

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4 ( +12 / -8 )

That's ILLEGAL Saikawa has sent an email to do that from a past article.

*The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old on Nov 19.

What colorful wording

-8 ( +4 / -12 )

He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault.

More evidemce Saikawa is trying hard to break up the alliance.

-7 ( +5 / -12 )

@kenji. It is legal to make moves in business to change business plans. Not sure about Saikawa, but to my knowledge he is not in prison facing trial for multi million dollar theft.

3 ( +7 / -4 )

Agree with other Ghosn supporters, he is a hero CEO and businessman who turned around a failing company so should be free to do whatever he wants. This is what happens in more civilized countries.

Furthermore, it is obvious to everyone that this is all a conspiracy peddled by the Japanese and French governments and the fake news media to silence Ghosn, likely ordered by Abe and Macron themselves

0 ( +3 / -3 )

@kenji. It is legal to make moves in business to change business plans. Not sure about Saikawa, but to my knowledge he is not in prison facing trial for multi million dollar theft.

@ Goodlucktoyou

You're 100% correct when you say Saikawa, or for that matter anyone at Nissan other than Ghosn, is not facing trail or even accused of a crime. AND THIS IN ITSELF shows just how corrupt the so called "justice" is in Japan and why it's receiving such scrutiny abroad! If the allegations are true or not remains to be seen but, in any case, it would be impossible for Ghosn to do what they say he did by himself. Others had to be involved and it was even stated that Saikawa signed documents and received emails outlining the retirement payout options for Ghosn. Obviously he knew everything and it is very probable that many others were involved as well. Why are there no other suspects? The simple answer seems to be that is Nissan wanted to avoid a merger and saw ousting Ghosn as the way to do that. Ghosn may be innocent or he may be guilty, but that should be determined in a fair trail. AND that trail should include many more that just 1 suspect!

-1 ( +5 / -6 )

@Kenji : Saikawa is trying hard to break up the alliance.

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Saikaiwa's day at Nissan are numbered.

Saikawa is a puppet.

Nissan is a J company - and its the J business infrastructure that will wrestle for it's autonomy or at the very least a more balanced power sharing.

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IMO :-)

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5 ( +6 / -1 )

The new case against Ghosn is far more serious than the existing charges. The original charges were more about getting rid of Ghosn on a pretext with the cooperation of the police and justice system. So far, standard abuse of the levers of power - typical for Japan, but a useful spotlight on it.

The new charges relating to Oman are far more serious. If there is a clear paper trail showing money going from the till back into Ghosn's pocket, he will be in real trouble.

8 ( +8 / -0 )

Elsewhere, reporting it's done, Senard now on Nissan board, Ghosn off it.

Saikawa deeply apologetic, doesn't know how to response to shareholders about who to take responsibility for corporate governance failure, but said looking forward to handing over responsibility to successor.

I read it as he wants to preserve his relationship with other directors, and they are all on a plush gravy train so who ever that takes over is going to have a hard time reigning in the excesses.

3 ( +5 / -2 )

I am afraid it is too late. Ghosn is already arrested, for multiple times.

4 ( +5 / -1 )

OK Nissan, you have gotten rid of Ghosn - drop the case and move on, you've got what you wanted, or.. is there more ? This smacks of kicking a man in the balls whilst he's down, just for the sheer pleasure of it.

1 ( +1 / -0 )

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