business

Renault: Ethics experts say pay to top execs is fraud-free

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Renault ethics officials have concluded that financial compensation to members of the French automaker's executive committee in 2017 and 2018 was fraud-free.

The review was initiated after Renault chief Carlos Ghosn was fired as head of Japan's Nissan and jailed in Tokyo on fraud charges in mid-November.

Ghosn remains CEO of Renault and says he's innocent in the Japanese case. Prosecutors allege he underreported his income over five years through 2015.

The company issued a statement on the findings after a board of directors' meeting on Thursday meeting.

Without mentioning Ghosn, the statement said internal experts assisted by independent outside experts found that executive committee compensation complied with laws and been "free from any fraud."

Compensation during previous is expected to come under review.

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©2019 GPlusMedia Inc.

4 Comments
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200 times more!!! That is how much the executives in Renault make more than the lowest paid workers in company!!! It is totally DISGUSTING to hear that the executives are paid fraud-free!!! In Japan and Germany this number is about 10, that seems to me fair. In United States of Brainlessness it's 250!!! The people who work very hard in the company make 200-250 times less that the useless executives! That is total slavery. THAT IS REAL FRAUD!!! All countries must have laws regulating the ratio of the highest and lowest paid in a company. To use the current minimum wage laws is very stupid. I don't understand why people don't start a total strike to fight to change their miserable lifes. Is any Spartacus around?

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In America they are 300 times more in General motors. Pls wake up.

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So, what is Legal in France, clearly is not in Japan.

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I Wonder if the Senior Execs of the French Investment Banks here in Japan are beginning to review their own situations ?

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