Nissan's Carlos Ghosn fired, arrested over alleged income misconduct

https://www.bloomberg.com/news/articles/2020-01-09/lifestyle-of-the-rich-and-hunted-ghosn-s-fortune-is-under-siege

Looks like Nissan indeed trying to evict him from their mansion.

Yeah they filed a while ago and it’s been winding its way thru the local courts according to the WSJ

Japan still wants him back…

And Nissan wants some money back…

I’m pretty sure they go hand in hand. Has anything developed from Ghosn after his “this is all a conspiracy” rant?

He must be in hiding. I haven’t heard or seen a peep from him since his rant.

OTOH, Nissan and Renault are probably questioning their decision to sack him, as their financials are a mess, and sales plunged. The new CEO is calling for his own firing if he can’t turn things around.

The many uses of musical instrument cases !

1 Like

I mean the man did produce results and bring Nissan back to profitability, but he also under reported his earnings (yay tax fraud), misused company assets, and misappropriated company funds. The current sales plunge is just a byproduct of the latter years of his leadership and it’s entirely possible he was only able to strike gold once.

I was being a bit facetious there, since things have spiraled out of control since his ouster. They really had no choice if he did what was alleged.

That said, Nissan hasn’t built anything exciting in years, Infiniti is virtually irrelevant in the premium/lux space at this point, so the scandal, along with mediocre product is a pretty rough 1-2 punch at the same time

3 Likes

BBC News - Carlos Ghosn: US ex-Green Beret and son arrested over escape from Japan

2 Likes

The plot thickens, and the shit-show continues at Nissan…

There are apparently alleged internal emails at Nissan looking to oust Ghosn due to the Renault tie-up, fueling more speculation that Ghosn actually was set up.

https://www.bloomberg.com/news/articles/2020-06-14/nissan-email-trail-casts-new-light-on-takedown-of-carlos-ghosn

2 Likes

Ghosn is a good guy. I watched his press conference. It seemed to me 100% that he was telling the truth.

I think we (US) are not doing enough to free Brian Kelly.

A long but interesting read deatilaing the escape.

2 Likes
1 Like

Japan’s justice system is no joke. They have very poor chance of anything close to a fair trial and Japan’s domestic idea of justice.

I finally listened to all four parts of the HBR IdeaCast on CG:

Very little new information (especially on the legal charges, though I forgot how much I had forgotten), lots of audio clips and background on him - I was surprised at the tone of the reporting (this is a true crime podcast about my totally innocent subject) - as bubbly as HBR IdeaCast (don’t confuse with anything written) can be, this felt over-the-top for the subject.

And I see the father/son are being sentenced

https://www.bloomberg.com/news/articles/2021-07-18/americans-who-helped-ghosn-escape-from-japan-to-be-sentenced

3 Likes

What is your opinion about him after listening to all the podcasts?

Was he a criminal or was he just a bad CEO?

I think CG should stand trial if he wants to prove his innocence, and that it’s a travesty he is free while other people are in jail for helping him (where they should be).

By all accounts he was a great leader and CEO, but played very fast-and-loose, something his lawyers probably told him a thousand times: DON’T F-AROUND IN JAPAN. You just don’t. :man_facepalming:t2::man_facepalming:t2:

Every CEO finds ways to color just-outside the lines, and some get away with more than others. You can be Jeff Immalt and fly an empty/backup private plane everywhere you go, but he was CEO of GE — not Nissan (and a guy whose reputation was about cutting costs).

If I were Jack Dorsey or Elon Musk, I would find the parable in this. I would be 0% shocked if Elon flew to Beijing for a scheduled business trip, and found himself “detained indefinitely”. You can flaunt the rules in some places, and tweet-:fu:t2::fu:t2:the SEC, but that silliness doesn’t play everywhere.

I’m curious what you (and others) think?

1 Like

Well said!