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January 7, 2020

Nissan to Continue Case Against Former Chairman Despite His Escape

Nissan has released an official statement after Carlos Ghosn’s escape to Lebanon without the knowledge of Japanese officials.

Here it is in full:
As stated by the public prosecutor’s office, former chairman Carlos Ghosn’s escape to the Lebanese Republic without the court’s permission in violation of his bail conditions is an act that defies Japan’s judicial system. Nissan finds it extremely regrettable.  
Nissan discovered numerous acts of misconduct by Ghosn through a robust, thorough internal investigation. The company determined that he was not fit to serve as an executive, and removed him from all offices. The internal investigation found incontrovertible evidence of various acts of misconduct by Ghosn, including misstatement of his compensation and misappropriation of the company’s assets for his personal benefit. The consequences of Ghosn’s misconduct have been significant. In addition to his prosecution in Japan, the U.S. Securities and Exchange Commission concluded that Ghosn’s conduct, including his schemes to underreport his compensation, was fraudulent. Investigations in France concerning possible misconduct are still ongoing. Nissan will continue to do the right thing by cooperating with judicial and regulatory authorities wherever necessary.  
Ghosn’s flight will not affect Nissan’s basic policy of holding him responsible for the serious misconduct uncovered by the internal investigation. The company will continue to take appropriate legal action to hold Ghosn accountable for the harm that his misconduct has caused to Nissan.

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