TRENDING Mitsubishi ousts Ghosn as chairman


Mitsubishi ousts Ghosn as chairman

13:52, November 27, 2018

Mitsubishi joined Nissan in ousting Carlos Ghosn as its chair on Monday.


Video source: VCG

It's a spectacular downfall for Ghosn - who was once one of the most well-known figures in the industry.

He was arrested last week and is being investigated for allegedly understating his income and using company money for personal use.

It's fueled a power struggle within a corporate alliance that as a group ranks as one of the world's biggest automakers.

It includes Japan's Nissan and Mitsubishi, and France's Renault - which has yet to fire Ghosn as chair and CEO.

The head of Nissan reportedly told employees on Monday that its relationship with Renault was not equal - and needed to be reviewed.

Top alliance executives will be meeting in Amsterdam this week, in a bid to shield their joint operations from the fallout.

The automakers have stressed that it's business as usual. Though Nissan has already postponed a product launch, it says that was to ensure the event receives the coverage it merits.

Ghosn has denied the allegations against him, according to Japanese public broadcaster NHK on November 25. 

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