In what could have been the biggest shake-up in the automotive industry last year, the arrest of Carlos Ghosn left us with a lot of questions. What of the Alliance between Nissan, Mitsubishi, and Renault? How does it affect the brands independently? Was it enough to strain the relationship, so much so that they all part ways?
Yesterday. Nissan Motor Co., Ltd held a meeting of its Board of Directors to address such concerns. From the start of the meeting, it has been reiterated that the Board remains steadfast to their alliance partnership with Mitsubishi and Renault as well. It was decided that in order to enhance the company's (Nissan's) governance, it will enlarge the scope of business decisions that require board approval.
It was also decided that an interim process shall be put in place to determine compensation for directors and executives. The said process will have effect until a final decision is made by the Board based on proposals from the Special Committee for Improving Governance.
The scandal in which former Nissan Chairman Carlos Ghosn has been implicated sent waves through Japan and beyond. Ghosn, along with Representative Director Greg Kelly, were arrested following llegations of serious misconduct. Their involvment in allegedly misdeclaring salaries, misrepresenting company investements, and using company assets for personal use was more than enough grounds to vote Ghosn out of leadership.
The board also received and updated report on the ongoing internal investigation regarding the primary allegations and additional charges on the former Nissan Chairman. No details from which were divulged outside of the meeting, but we can safely surmise that their subsequent actions will most definitely be in response to this, and future investigations' findings.