Carlos Ghosn wants a French court to force Renault to pay him a retirement indemnity of 250,000 euros. Photo: AFP/File
business

Ghosn seeks retirement benefit from Renault

31 Comments
By JOSEPH EID

The former chief executive of Renault Carlos Ghosn, who fled Japan while awaiting trial on financial misconduct charges, is seeking the payment of a retirement payment by the French carmaker that he says was unfairly withheld.

Ghosn has filed a complaint with a French employment tribunal in Boulogne-Billancourt outside Paris, when Renault is headquartered, a source close to Ghosn told AFP, confirming a report in Le Figaro daily.

A Renault spokesman said the company had received notice of the lawsuit in December. Both sides said a hearing is expected at the end of February, without giving a precise date.

The claim focuses on the payment of a retirement benefit of 250,000 euros ($278,000) which Renault did not pay on the grounds that Ghosn quit at the end of January 2019 while he was still in prison in Japan.

Ghosn, 65, was arrested in Tokyo in November 2018 on charges of financial misconduct while head of Renault's alliance partner Nissan, including a claim he under-reported millions of dollars in salary.

However, his team argues Ghosn did not quit of his own free will but left the company as he was no longer able to lead it from behind bars.

A source close to Ghosn also added that an even larger claim is planned at a French commercial court to obtain an annual supplementary pension of 774,774 euros ($861,700) per year, as well as 380,000 shares granted for reaching performance targets.

These shares, handed out from 2015-2018 on the condition he was still at the firm four years later, are now worth 15.5 million euros at current prices.

Ghosn fled Japan for Lebanon in late January while awaiting a trial he said would not be fair under Japan's legal system.

© 2020 AFP

©2020 GPlusMedia Inc.

31 Comments
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This goes to show just how greedy this vile man is. He embezzles millions from these corporations and then expects a pension.

-5 ( +14 / -19 )

As far as I am concerned he earned every cent.

3 ( +17 / -14 )

CitizenSmith and Bernie Sanders fit Prez.

-5 ( +0 / -5 )

I understand the payments are stated in the contract so why shouldn't he be paid?

7 ( +12 / -5 )

This goes to show just how greedy this vile man is. He embezzles millions from these corporations and then expects a pension.

To this day, no evidence has been put forth to support this claim. Until that his done, he presumed innocent of all accusations. Not all successful business men are thieves.

6 ( +15 / -9 )

Don’t be so naive

3 ( +8 / -5 )

Ghosn hasn't been convicted, and he has a contract that must followed with Renault.

Nissan is so bitter because they and the MOJ look incompetent and dishonest. The original plan was to find an excuse to break away from Renault while they play the victim of some evil foreigner. Unfortunately, for them, it only put egg on their face.

Ghosn knows where all the bodies are buried! Olympus version 2.0???

Nissan Examines Possibility of Breaking Away From Renault

https://finance.yahoo.com/news/nissan-examines-possibility-breaking-away-100741824.html

Hopefully, Kelly will be ok.

2 ( +8 / -6 )

I am pretty sure he will not receive a penny of it since Nissan would have file a separate civil suit against Ghosn for the losses he had made through embezzlement he had done.

In which case Renault will require to hand the money to Nissan entitled through non-appearance at court.

In a civil case a non appearing defendant is considered forfeiture of appeal automatically granting the plaintiff win.

3 ( +7 / -4 )

Let it all play out in court. He might be guilty, he might be innocent, he might be due a pension, he might not... this is why a functioning, fair legal system is important as it allows everyone to understand the rules and makes sure everyone follows them

7 ( +8 / -1 )

This goes to show just how greedy this vile man is.

Innocent, until proven guilty.

-1 ( +7 / -8 )

Now, he's pushing it. Yeah, the JP MOJ harshly mistreated him. Yeah, I'd run away too, if I had the resources.

But, I have no doubt he committed the same acts of greed and avarice that almost all people of his stature and wealth commit. No doubt at all. Have the company pay for a bunch of personal stuff, but don't report to avoid income taxes and upsetting the shareholders. SOP, business as usual for those people. And, this request just confirms the never-ending lust for money his type desires. They can never have enough. More money. More homes. More cars. More yachts. More more more.

2 ( +7 / -5 )

Innocent, until proven guilty.

Except in JAPAN

-1 ( +5 / -6 )

I agree with CitizenSmith and garypen!!

Ghosn is just a repugnant and greedy man who got caught with his hands in too many cookie jars. Now, he wants more money!

I just can't believe so many people on this website still have sympathy for the man.

Wedding at Versailles Palace and claiming he didn't realize he had to pay for it, Shady front companies using Nissan money to pay for shady services in Oman, Saudia Arabia and even used to buy his luxury homes around the world. He was even banned in the USA for 10 years by the SEC from holding any corporate executive position. Wake up and smell the coffee people!!!

2 ( +5 / -3 )

Don't get me wrong, Ghosn looks like sneaky little rat:) That said dont care if he doesn't gets a cent or all of it, its the way this all came about, baiting him and greg to comeback to japan because of an emergency then get arrested at the airport, NISSAN is scum for that!

As for the MOJ and the draconian ways it uses the archaic system in place is what is irritating, all this amounts to violation of human rights?

Saikawa should be in custody? But oh wait he's japanese and was able to mop the floor with his tongue when he bowed and said Gomen? So he's all good?

JAPAN may be in for a very rude awakening, imagine if this boycot actually starts happening and all this money dumped for preparation.

Who are they Gonna Blame NISSAN or Carlos?

0 ( +2 / -2 )

Ghosn's going to need that retirement payment to pay for extra security so as to not get kidnapped and brought back to Japan by hired goons.

2 ( +2 / -0 )

Think the actual fight is between French government-Renualt and Ghosn, It was the french government which was pushing for a full merger, which would have allowed them more control of the merged companies, and Ghosn knowing that Nissan would fiercely oppose, proposed a holding company which would have allowed Nissan and Renault to operate as separate companies, wonder if the public prosecutors realize who was actually pushing for the merger.

https://www.businessinsider.com/r-exclusive-renault-nissan-boardroom-fight-masks-french-merger-push-2015-11

2 ( +2 / -0 )

Innocent, until proven guilty.

He fled the country, through illegal means (falsifying flight records), in violation of bail conditions.

This is a criminal offense, that he has been proven guilty of.

He might have (theoretically) had a case on the financial misconduct charges. He absolutely doesn't have one on fleeing the country.

2 ( +4 / -2 )

I just can't believe so many people on this website still have sympathy for the man.

I cant believe so many have convicted the man even though he hasn't even had a trial, all their info they get from leaked information by the prosecutors to the J media.

If Ghosn is guilty he can rot in jail for all I care , but everybody has a presumption of innocence until a court/judge/jury rule him guilty or not guilty

To many armchair lawyers here who have gathered their evidence from what they read in the unbiased J media LMFAO

-3 ( +1 / -4 )

He might have (theoretically) had a case on the financial misconduct charges. He **absolutely doesn't have one on fleeing the country.**

something he clearly stated in his press conference. since Japan cant do anything about the fleeing part maybe they can file a suit if Lebanon against Ghosn. fortunately Lebanon doesn't require you to be in detention for 23 days to prove your innocence

-2 ( +1 / -3 )

If you get arrested in Lebanon there is the potential for you to be treated far worse than you would be in Japan.

4 ( +5 / -1 )

"To many armchair lawyers here who have gathered their evidence from what they read in the unbiased J media "

Not really!! There are many other reliable overseas outlets to get the news or facts! You just have to do your homework!!

https://www.sec.gov/news/press-release/2019-183

https://www.nytimes.com/2020/01/08/business/carlos-ghosn-interview.html

"In explaining some of the questionable personal expenses, Mr. Ghosn used a defense common on Wall Street: He said other executives at Nissan had signed off on the transactions, which made them authorized by the company."

https://www.wsj.com/articles/ghosn-could-have-an-easier-time-clearing-his-name-in-lebanon-11578049205

4 ( +5 / -1 )

Ghosn hasn't been convicted

It's unrelated.

he has a contract 

The contracts say he doesn't fill the conditions to receive.

why shouldn't he be paid?

For State pension, he can apply but there are residency conditions he might have not achieved (as he lived in countries of cheaper taxes) . Anyway he'd need coming in person to do the applicatio. So he'd have to do a trip to France.... and risk being arrested.

For the Renault hat-pension, and stock-options, the contracts say you can receive only if you are still employed at a deadline date. He quit before.

Idem for the bonus, you need to work the full year. He missed a month.

He's already started about France, with the "injustice system" and "the country not being a real democracy".

2 ( +2 / -0 )

 Mr. Ghosn used a defense common on Wall Street: He said other executives at Nissan had signed off on the transactions, 

For French courts, that will be an evidence, not a defense.

1 ( +1 / -0 )

Wedding at Versailles Palace and claiming he didn't realize he had to pay for it, Shady front companies using Nissan money to pay for shady services in Oman, Saudia Arabia and even used to buy his luxury homes around the world. He was even banned in the USA for 10 years by the SEC from holding any corporate executive position. Wake up and smell the coffee people!!!

Except for the SEC part, all the other points were covered at his press conference. Did you bother looking up the video? If not, I'll get you started: the palace in Versailles he had rented out himself and paid for all the costs. As a token of gratitude, the palace offered him a free room to rent, which he took them up on.

-1 ( +1 / -2 )

Unfortunantly I had also been introduced to the Japanese justice system for something I did not do. And it is as bad as ghosn has said I was not allowed a lawyer nor any phone call. I had 15 minutes outside for a smoke per day and the rest was in solitary confinement lights 24/7 and interviews that lasted 7 hours at a time. I was told by one of the prosecutor's that I could be out in a few days if I admit what ever they said I did. In the end I gave up wrote what they told me to write got a fine paid it and left.

0 ( +2 / -2 )

Except for the SEC part, all the other points were covered at his press conference. Did you bother looking up the video? If not, I'll get you started: the palace in Versailles he had rented out himself and paid for all the costs. As a token of gratitude, the palace offered him a free room to rent, which he took them up on.

No, I didn't watch most of the video, as he was just rambling about himself!!

Yes, he did offer to paid up after it was pointed out to him. But......

"Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle.

He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth 50,000 euros ($56,000), in exchange for a philanthropy deal between the state-owned property and Renault."

1 ( +2 / -1 )

No, I didn't watch most of the video, as he was just rambling about himself!!

Well....yeah, it's like, HIS press conference so he will naturally talk about himself. And if you haven't watched it then you shouldn't come on here to talk about things that have already been addressed.

0 ( +1 / -1 )

Well....yeah, it's like, HIS press conference so he will naturally talk about himself. And if you haven't watched it then you shouldn't come on here to talk about things that have already been addressed.

Whatever. . . .dude!!

I don't need to watch a criminal address only the things that he wants you to hear. I do my homework and get my facts from various sources.

https://www.japantimes.co.jp/news/2020/01/09/national/crime-legal/carlos-ghosn-japan-justice-system-news-conference/#.Xh3Z8mSRVkw

https://www.ft.com/content/ce6ec776-3234-11ea-9703-eea0cae3f0de

-1 ( +1 / -2 )

I am astonished to see that the majority of the comments support the fugitive crook. I am sad to see that the moral values changed negatively in today's world. Shame.

0 ( +2 / -2 )

I don't need to watch a criminal address only the things that he wants you to hear. I do my homework and get my facts from various sources.

For your information, he also addressed every single accusation against him with arguments and evidence. If you consider that to be "the things he wants you to hear", then you're no better than the Japanese prosecutors. He hasn't had the chance to speak openly since his arrest, mind you. Hear his version instead of dismissing it.

As for the links you provided, it barely touched upon the evidence he presented in his press conference. It was just an account of people's opinions about him. What was your point?

0 ( +1 / -1 )

 I am astonished to see that the majority of the comments support the fugitive crook. I am sad to see that the moral values changed negatively in today's world.

The crook is this medieval justice system, the moral values have expanded positively and as such the world can see who is the real crook.

-1 ( +1 / -2 )

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