TOKYO (AP) — Japanese automaker Nissan is sending out notices to shareholders asking them to dismiss former Chairman Carlos Ghosn as a director at an April 8 shareholders’ meeting, the company said yesterday.
The notice, signed by Nissan President Hiroto Saikawa, will be sent out today, Nissan Motor Co said.
The notice says the agenda also includes the election of Renault Chairman Jean-Dominique Senard as a Nissan director, on the condition that Ghosn is ousted.
Although Ghosn has been dismissed as chairman at Nissan, he remains on the board. Shareholders’ approval is needed to remove him from the board.
Nissan is part of an alliance with Renault SA of France, and more recently with Japan’s Mitsubishi Motors, that was largely cobbled together by Ghosn, who led Nissan for two decades.
Ghosn, who was arrested in November, has been charged with falsifying financial reports in under-reporting his compensation, and breach of trust in having Nissan shoulder investment losses and making payments.
Ghosn, 65, says he is innocent because the compensation was never decided or paid, Nissan never suffered losses, and the pay was for legitimate services. He has indicated that he is prepared to fight to prove his innocence in court.
The notice from Nissan says its investigation also found Ghosn used company money for personal expenses.
The notice did not give specifics, but sources familiar with the investigation have pointed to fancy homes in Lebanon and Brazil, as well as expensive furnishings such as a chandelier.