Nissan committee says there were sufficient facts to suspect private use of company funds by Ghosn

It also singled out Nissan director Greg Kelly, who has also been indicted, for his alleged role in helping Ghosn avoid oversight.The seven-member committee recommended a majority of directors be independent and that the role of company chairman should be abolished, while an independent, outside director should be chairman of the board.

“It is clear that there are issues requiring improvement with respect to Nissan’s governance as it could not prevent the misconduct.” “We expect Nissan will take these recommendations seriously and execute them in a swift manner to build the best possible governance structure,” committee co-chair Seiichiro Nishioka told a briefing in Yokohama.

At the time of his arrest in Tokyo in November on financial misconduct allegations, Ghosn held the chairmanship at Nissan, Renault and Mitsubishi Motors Corp, which together form one of the world’s biggest automakers selling roughly 10 million vehicles each year, while also serving as Renault CEO.Nissan’s board currently comprises nine directors including the chairman, three of whom are categorized as outside, independent directors.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Top takeaways for Canada’s private companies in the 2019 federal budgetInformation and inspiration for Canadian entrepreneurs, startups and small business leaders globebusiness Takeaway for Canadian corps.. Use political pressure to squirm out of bribery charges and if that fails the scum-bucket politicians you worked with will release a budget to distract the idiot voters. But you're still going to go to court so there's that.
Source: globeandmail - 🏆 5. / 92 Read more »

Report on Small Business Newsletter: Top takeaways for private companies on the federal budgetReport on Small Business Newsletter: Top takeaways for private companies on the federal budget GlobeSmallBiz
Source: globeandmail - 🏆 5. / 92 Read more »

Two Canadian pension funds to own 53 per cent of satellite service company InmarsatThe Toronto-based pension managers – two of Canada’s biggest institutional investors – said they believe the satellite sector has attractive investment potential
Source: globeandmail - 🏆 5. / 92 Read more »

Potash companies say Saskatchewan did not consult on budget tax changeSaskatchewan’s energy and resources minister Bronwyn Eyre says potash companies were not made aware of the change because of market sensitivity
Source: globeandmail - 🏆 5. / 92 Read more »