If
you missed this surprise, Carlos Ghosn, a chairman at Renault and Nissan, was
arrested in Japan after an investigation found him guilty of acts of financial
misconduct. These acts took place over many years, and with the help of another
executive it seems. Millions of dollars in company funds were stated to have
been used personally by Ghosn while he under reported his earnings. That’s a
major crime anywhere, and Nissan said it will seek his removal (UPDATE: Ghosn will remain chairman until further notice - he was dismissed from Mitsubishi as of 11/26/18). Stocks of
Nissan and Renault plunged following this news. The company insists that its
recent alliance with Mitsubishi won’t be affected. We'll see if that holds true.
This
seems so wildly foolish and ironic, as Ghosn was responsible for bringing Nissan
back from the brink of financial collapse during the late 1990s. “Mo’ money, mo’
problems” – Biggie’s words still ring true to this day.
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