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Carlos Ghosn was arrested in Japan after suspicion of tax avoidance

Carlos Ghosn, October 1, 2018.
Carlos Ghosn, October 1, 2018. Regis Duvignau / REUTERS

He talks about his salary at all times. Renault's Chief Executive, Carlos Ghosn, was arrested on Monday (November 19th) in Tokyo as part of an investigation into suspicions of tax avoidance and misuse of corporate assets.

The Nissan group Monday morning confirmed that Carlos Ghosn, the non-executive chair of the group, had "For many years he reported income under the real amount". The group further said that " many other shortcomings have been discovered, such as the use of corporate property for personal purposes ". As a result, his board of directors, who will meet on Thursday, proposes that Mr Ghosn will leave his job quickly.

These advertisements confirm information from the Japanese daily newspaper Asahi Shimbun, who said earlier in the morning that the CEO of Renault questioned Monday morning by the Tokyo prosecutor's office for an allegation contrary to the Japanese regulation of foreign financial and financial instruments. Carlos Ghosn was kept following this query.

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Hundreds of million souls

According to Japan on a daily basis, the Renault-Nissan-Mitsubishi league manager is suspected that he has reduced part of his pay, resulting from the purchase and sale of shares. The amount could be hundreds of millions of names (hundreds of thousands of euros). The entrepreneur has agreed to work with justice, ensures thatAsahi Shimbun.

Emmanuel Macron ensured Monday that the French state, Renault's shareholder, "Very vigilant" i "Stability" from the automaker to the future of his league with Nissan. He said the state would bring her up "All his support" i "All employees" from this company.

In the morning, investors strongly responded to this publication. In Germany, the Nissan title has disscrewed 11.3% in the minutes following the first information, still fragmented. In the Paris Stock Exchange, Renault shares, 12% decreased. The value of the French maker's stock market has lost more than a billion euros, to return to € 17.9 billion, its lowest level since January 2005. In six months, capitalization of the tricolor group has decreased by a third.

One of the archipelago's paid headteachers

In Japan since 1999, Carlos Ghosn was the Japanese chief engineer rescuer, on the verge of bankruptcy. After surrounded by a small team of operators from Renault, he restructured the company and came closer to the diamond brand within a global industrial league. After this rescue, Mr Ghosn became a real article in Japan, to the point of being a manga character.

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For a long time, he was one of the main paid managers in the archipelago, with recognition – including stable, variable pay and stock options – over 9 million euros a year. In 2017, however, it reduced its pay when it ended as a General Manager in Nissan. He received the equivalent of 5.6 million euros for his work in the Japanese maker, according to the Proxinvest company. In Renault, the head of the Renault-Nissan league, on the other hand, for the 2017 financial year, 7.4 million euros.

For many years, the headteacher's compensation raises many politicians in France, the state – who still has 15% of Renault – refuses to vote systematically in favor of Mr. Happiness at general meetings. In 2016, the shareholders voted even against GA, a ballot that the board had not followed.

Could the news speed up Mr Ghosn's succession on top of Renault? Since February, the French group had started a transition. A number two were appointed for Renault for the first time since 2013, as a Thierry Bolloré person, a deputy general manager was appointed.

They were contacted The worldthe Ministry of Economy services, who are not participating in the State's participation in Renault, did not want to comment. Just like Renault, Nissan France and Nissan Europe.

Economy Service

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