'Misconducts were committed not only in Japan but also in foreign countries,' says report. FMTNews Nissan Ghosn
TOKYO: Nissan Motor Co has revealed more details of an exhaustive probe into Carlos Ghosn, a week after its fugitive former leader accused the Japanese carmaker of being behind the plot to have him arrested.
Nissan was required to submit the report after adjusting its past earnings following the arrest of its former chief executive officer and chairman for financial crimes in November 2018. While the timing of the report has little to do with Ghosn’s escape, it underscores the extent to which Nissan has had to reform its practices in the year after his arrest.
The report found six others also received excess compensation via stock appreciation rights, though did not identify them. The amount involved totalled 57.7 million yen, though Nissan expects most of that amount to be repaid by March. The report attacked Ghosn’s “personality cult” and accused him of isolating departments within Nissan that would have been able to discover his misconduct, describing Ghosn as turning them into a “black box.”
“Although Nissan is presenting this improvement report to the stock exchange and promising to rebuild its business and be more transparent, the current movements of Nissan’s management look like the exact opposite,” said Koji Endo, an analyst at SBI Securities Co in Tokyo. “That’s the biggest problem.”
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