Nissan’s Plot Against Ghosn Was Driven by Fear of French Takeover

By Nick Kostov in Paris and Sean McLain in Tokyo March 28, 2019 10:43 a.m. ET Carlos Ghosn, onetime lynchpin of the Renault-Nissan alliance, was released on bail of nearly $9 million on March 6 after 108 days in custody. Photo: Takaaki Iwabu/Bloomberg News After Carlos Ghosn was arrested, jailed and stripped of his titles at Renault-Nissan, two of the alliance’s top executives met in Amsterdam to clear the air.

Two Nissan executives, determined to halt further corporate integration, instigated a probe of Mr. Ghosn, chasing longtime rumors of wrongdoing, until they found evidence of alleged financial crimes to give prosecutors, according to the documents and people familiar with the investigation. Their primary motivation was to protect Nissan, which translates to “Japan industry,” said people familiar with their views, mirroring how countries around the world still protect their national champions.

WSJ's Peter Landers explains what's next for Mr. Ghosn. Photo: Kyodo News via AP Merger discussions are back to square one, just as the Nissan executives who plotted Mr. Ghosn’s fall had hoped for. Renault’s share price has dropped more than 9% since his arrest, and Nissan’s stock is down more than 8%, despite a recent rally.

if { function loadCSS{function d{for;t?o.media=n||"all":setTimeout}var o=window.document.createElement,a=t||window.document.getElementsByTagName[0],i=window.document.styleSheets;return o.rel="stylesheet",o.href=e.trim,o.media="only x",a.parentNode.appendChild,d,o}window.loadCSS=loadCSS; } /* 4u Graphics Standalone */ @media all and { body.template-standalone:not .wsj-ai2html-1553716148354show-4u, body.template-standalone:not .

Mr. Ghosn agreed to a modest salary cut and a commitment to “take decisive steps to make the alliance irreversible,” said a Renault news release on Feb. 15, 2018. The government of French President Emmanuel Macron, which had been pressing for closer integration between the two companies, voted for Mr. Ghosn’s renewal.

Mr. Ghosn, who served as chief executive of both companies for more than a decade, was known as a defender of each company’s autonomy, said people who know him. The Japanese ministry drafted a memorandum of understanding for the French government, effectively codifying demands delivered by Mr. Nada. Essentially, France would have to promise to respect Nissan’s independence and funnel any communications through the Japanese government.

Can't wait for the book. Hope it's as good as Bad Blood.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Renault aims to restart Nissan merger talks within 12 months: FTFrance's Renault SA intends to restart merger talks with Japan's Nissa... Renault said . Then Nissan’s Another Coup will start France 🇫🇷 changed Law for State Own Enterprise Renault and hijack Foreign Company Nissan ? France 🇫🇷 is like China 🇨🇳 Never buy any song. My third Nissan saw its transmission died at 89k miles & Nissan basically told me too bad. They also told me loyalty counts for nothing. Then kengarff said they wouldn’t charge me the $150 diagnostic fee & they did anyways.
Source: Reuters - 🏆 2. / 97 Read more »

Renault reportedly plans to restart Nissan merger talks in bid to buyout Fiat-ChryslerOne of the world's largest car-making pacts could become even larger. Renault is reportedly planning to merge with Nissan, then buy Fiat-Chrysler.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Fiat Chrysler shares climb on talk of a merger analysts think is 'half-baked'A report Wednesday said Renault would consider merging with Fiat Chrysler, but Renault's current troubles with Nissan are a major stumbling block.
Source: CNBC - 🏆 12. / 72 Read more »

Nissan’s Corporate Governance Needs to Be Overhauled, Committee SaysNissan needs to overhaul its governance structure, a special committee of advisers hired by the car maker said, citing a lack of oversight of former Chairman Carlos Ghosn as the cause of the scandal plaguing the company. its a cliche now but still do true.. power corrupts and absolute power corrupts absolutely Trash talk. There is no such thing as too much power. There is, however, abuse misuse and waste of power. He’s ghosn to jail!
Source: WSJ - 🏆 98. / 63 Read more »