business

Nissan shareholders vote to remove Ghosn as director

25 Comments
By Yuri Kageyama

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

©2019 GPlusMedia Inc.

25 Comments
Login to comment

Always going to happen, but the plot thickens as they leak more and more allegations.

18 ( +20 / -2 )

A nice cosmetic display of harmony, but they still have to fix the numerous issues of corporate governance that they sorely lack.

16 ( +17 / -1 )

Didn't expect anything else.

Japanese company, Japanese management (as for now), and mostly Japanese shareholders.

Wonder whether Saikawa and alike will be next.

12 ( +14 / -2 )

*The Renault-Nissan-Mitsubishi Motors alliance now rivals auto giants Volkswagen AG of Germany and Japanese rival Toyota Motor Corp. in global sales.

Carlos made that, youhae bad memory or forgot before carlos that ceo made Nissan bankrupt, why the media never reiterates that is interesting.

*Saikawa told shareholders the company will stick by the alliance, fix its governance problems and make the ouster of Ghosn "a turning point."

That translates to, refrain from giving power to foreigners and cutting the alliance lose

8 ( +14 / -6 )

Wheres the new French CEO? funny he has ni freedom to stand on the podium to soeak or has a chair that's visible even...

-2 ( +6 / -8 )

Ghosn has not been found guilty of any crime. These shareholders are morons, Ghosn saved their company. Typical Js just believe everything they are told by the prosecutors and nissan.

I look forward to Ghosn being found not guilty and then suing nissan, saikawa and the sordid pathetic little prosecutors to hell.

15 ( +23 / -8 )

One shareholder said Nissan's entire management should resign immediately. 

This!

16 ( +18 / -2 )

What a grotesque display of sheeples doing as they told, exactly like in a Circus.

Ghosn haven’t been found guilty yet, but looks like the sentance is already given...

15 ( +19 / -4 )

Share price will continue to drop. The French will have to run and sell it before it goes to zero. The current management has no vision and will run it into the ground. Carlos will be running another company that wants a leader.

10 ( +14 / -4 )

"We had allowed a system in which wrongdoing could be carried out without detection," he said.

So take responsibility for it Saiky.

15 ( +15 / -0 )

Well they are the shareholders and are basing their vote on what they are reading in the media I guess.

The other guy Saikawa, he should fall on his sword too.

12 ( +13 / -1 )

Nice coup.

Japanese taking back the control helped by a rotten justice system.

I don't care for Ghosn, but imagine how many "little" people are victims of this system.

11 ( +13 / -2 )

The New York Times ran a piece about Chosen, and it was not pretty. He came out quite badly. I guess we have to write this down to typical oligarchy behavior, they get sloppy after a few years. Educate yourselves, and read the opposite view. I do believe that even if he is guilty, the Japanese justice system has been a joke!

11 ( +12 / -1 )

Saikawa, standing to the right, behind Senard, will get his bone soon.

8 ( +8 / -0 )

One shareholder said....

4000 present, but casting votes generally depend on number of shares held. So it's the institutional shareholders (controlling millions), and not the man in the street (with his modest ¥50k or whatever), that will sway the vote.

Which way did Renault (43.4% shareholder) vote, and why, I wonder.

5 ( +5 / -0 )

What Saikawa really wanted to say:

"We have successfully expelled the foreigners. Now join me in the celebratory 'banzai' cheer!"

But he has to keep up the lie that this was just about corporate governance.

9 ( +11 / -2 )

Bye-bye Carlos. Saikawa-san will get the company going again. NISSAN is coming back!

-11 ( +2 / -13 )

Ganbare Japan... hahahahaha! By by bankrupt Nissan!

10 ( +11 / -1 )

bye bye. Stupid Saikawa. The shareholders will want his scalp too, by next year.

6 ( +8 / -2 )

What to watch for in future, if you are a Nissan shareholder... just some common sense advice, based more on human nature than economic insight... if, in the mid-term future, Saikawa says that 'we are experiencing temporary financial hiccups related to the way Ghosn ran the company'... run, sell your shares, run! Translation... 'We have gone back to the way it was before Ghosn, we don't know how to run a company, except to soon run it into the ground.'

6 ( +7 / -1 )

Carlos saved Nissan. His mistake was being a foreigner. He should have exited from the company and Japan before this but it was his love for the company he saved and rebuilt that kept him in place.

Anyone with Nissan stock would be wise to sell it.

10 ( +11 / -1 )

french and japan destroyed human rights and focus on profit and power. let's see when nissan and renault will sink down.

1 ( +2 / -1 )

Carlos saved Nissan

This^^^is/was my perception too. But, I'm inclined to look at more angles now that Nissan shareholders (who are very self interested) have voted him out.

A friend of mine, who is a retired Ford manager who has worked in Japan and all over Asia Pacific told me his take is that Ghosn saved Nissan as much as Tata saved JLR, ie insignificant.

The underlying truth is Ford didn't have the staying power with JLR, having spent vast sums of money developing new powertrains and platforms for JLR, only to run out of money and exposed to market events outside its control. Tata got the cake, and the icing, and most of its products currently has its roots in Ford money.

Nissan spent vast sums investing in tech and new platforms too, only to run out of money before it could bring products to market and Renault's cash was what saved it, not Ghosn. Hence why you see such assymetrical tech sharing (ie mostly flowing from Nissan, Mitsubishi) to Renault. Ghosn was talented at getting commercial terms for the technology sharing, but according to my friend, everyone is doing that these days, eg BMW - Toyota, if Ghosn wasn't around someone else would have done it.

-2 ( +1 / -3 )

So there is no Chairman and Renault are just as much in charge of the whole business as before, his wife had multiple passports as did Ghosn, no I think the prosecutors did a good job, and no conviction so they haven't done anything wrong, just kept him from the Press.

I wish Nissan et al the best, its all about electric cars from now on.

0 ( +0 / -0 )

Nissan shareholders... who were the majority block holders ? What was the breakdown ? This information should actually be made public.... there's something fishy going on here.

1 ( +1 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites