Carlos Ghosn's downfall from his once-unassailable position at Nissan is now (more or less) complete.
Nissan has just announced that they have filed a criminal complaint against their former chairman. Indicted for aggravated breach of trust under Japan's Companies Act, Nissan filed the criminal complaint on the basis of Ghosn's misuse of company funds.
In addition, Ghosn and former Representative Director Greg Kelly were also charged for violating the Japan Financial Instruments and Exchange Act, particulary, making false disclosures in annual securities reports. This also resulted in Nissan (as a legal entity) being indicted due to the same violation.
Ghosn has also been removed as Representative Director of Nissan by the Board and his name no longer appears on the Board of Directors roster on their official press site.
Nissan will continue its internal investigation in order to check any more illegal expenditure of company funds.
The ongoing fiasco, however, appears to have taken its toll on one of its key executives. Set to leave Nissan soon is Jose Muñoz, Chief Performance Officer and Chairman of Nissan North America. After being with the automaker for 14 years, Muñoz decided now is the right time to leave the company.
“After some period of serious contemplation, I have decided to leave Nissan Motor Corporation. I’ve been honored to be part of Nissan’s growth and return to prosperity over my fourteen-year career there,” said Muñoz.
He explained that the current investigation against Ghosn will continue to divert Nissan's attention, However, he did mention that he is still looking forward in assisting Nissan in its investigations.
“My decision to leave Nissan was reached after much reflection and careful consideration. Unfortunately, Nissan is currently involved in matters that have and will continue to divert its focus. As I have repeatedly and recently made clear to the company, I look forward to continuing to assist Nissan in its investigations,” added Muñoz.