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| Carlos Ghosn: Nissan board to decide chairman's fate | Carlos Ghosn: Nissan board to decide chairman's fate |
| (about 2 hours later) | |
| Nissan's board will meet on Thursday to decide whether to remove Carlos Ghosn as chairman after he was arrested on allegations of financial misconduct. | Nissan's board will meet on Thursday to decide whether to remove Carlos Ghosn as chairman after he was arrested on allegations of financial misconduct. |
| The board is expected to dismiss Mr Ghosn from his post. | The board is expected to dismiss Mr Ghosn from his post. |
| He has been accused by Nissan of under-reporting his salary and using company assets for personal use. | He has been accused by Nissan of under-reporting his salary and using company assets for personal use. |
| But some see it as part of the firm's attempt to rebalance power in its alliance with Renault and Mitsubishi, which Mr Ghosn also chairs. | But some see it as part of the firm's attempt to rebalance power in its alliance with Renault and Mitsubishi, which Mr Ghosn also chairs. |
| A towering industry figure, the arrest of the Brazilian-born businessman this week has sent shockwaves through the sector. | A towering industry figure, the arrest of the Brazilian-born businessman this week has sent shockwaves through the sector. |
| The 64-year-old is credited with turning around both Nissan and Renault, and was the architect of the tie-up between the three firms where Renault is seen as a dominant partner. | The 64-year-old is credited with turning around both Nissan and Renault, and was the architect of the tie-up between the three firms where Renault is seen as a dominant partner. |
| What are the accusations? | What are the accusations? |
| Nissan has accused Mr Ghosn of "significant acts of misconduct", including under-reporting his pay package and personal use of company assets. | Nissan has accused Mr Ghosn of "significant acts of misconduct", including under-reporting his pay package and personal use of company assets. |
| On Monday the firm said it had been conducting an internal investigation for several months, prompted by a whistleblower. | On Monday the firm said it had been conducting an internal investigation for several months, prompted by a whistleblower. |
| Senior executive Greg Kelly, which Nissan accuses of having been "deeply involved" in the misconduct, has also been arrested. | Senior executive Greg Kelly, which Nissan accuses of having been "deeply involved" in the misconduct, has also been arrested. |
| Prosecutors have said the two men conspired to understate Mr Ghosn's compensation, starting in 2010. | Prosecutors have said the two men conspired to understate Mr Ghosn's compensation, starting in 2010. |
| Mr Ghosn is accused of filing annual securities reports containing fake statements, which could mean up to 10 years in prison, or a fine of 10m yen, or both. | |
| Broadcaster NHK has also reported, citing unnamed sources, that Nissan spent millions of dollars on luxury homes in four countries without legitimate business justifications. | |
| Millions of dollars had been spent to purchase and renovate the homes in Brazil, Lebanon, France and the Netherlands, NHK said. | |
| Mr Ghosn has not been charged and remains in custody in Japan. | Mr Ghosn has not been charged and remains in custody in Japan. |
| What has the reaction been? | What has the reaction been? |
| Nissan chief executive Hiroto Saikawa has said he felt "indignation" and "resentment." | Nissan chief executive Hiroto Saikawa has said he felt "indignation" and "resentment." |
| He said Nissan would now try to "stabilise the situation, and normalise day-to-day operations" for staff and business partners. | He said Nissan would now try to "stabilise the situation, and normalise day-to-day operations" for staff and business partners. |
| Both Nissan and Mitsubishi said they would propose the removal of Mr Ghosn as chairman. | Both Nissan and Mitsubishi said they would propose the removal of Mr Ghosn as chairman. |
| Renault said Mr Ghosn would remain as its chairman and chief executive but appointed a temporary deputy chief executive to take over the running of the carmaker. | Renault said Mr Ghosn would remain as its chairman and chief executive but appointed a temporary deputy chief executive to take over the running of the carmaker. |
| French Finance Minister Bruno Le Maire said Mr Ghosn was "no longer in a position" to lead the carmaker in which the French state has a 15% stake. | French Finance Minister Bruno Le Maire said Mr Ghosn was "no longer in a position" to lead the carmaker in which the French state has a 15% stake. |
| But he said Renault's partnership with Nissan remained in the interests of both France and Japan and of both companies. | But he said Renault's partnership with Nissan remained in the interests of both France and Japan and of both companies. |
| The market hasn't taken the news well. Shares in Nissan have fallen around 5% so far this week, while Renault were down more than 8% this week. | |
| Will the Alliance survive this? | Will the Alliance survive this? |
| Mr Ghosn is the chairman and chief executive of the Renault-Nissan-Mitsubishi Motors strategic alliance. | Mr Ghosn is the chairman and chief executive of the Renault-Nissan-Mitsubishi Motors strategic alliance. |
| But the future of the partnership remains unclear in the aftermath of the revelations. | But the future of the partnership remains unclear in the aftermath of the revelations. |
| Despite selling fewer vehicles, Renault has a 43% shareholding in Nissan, while Nissan's stake in Renault is only 15%. | Despite selling fewer vehicles, Renault has a 43% shareholding in Nissan, while Nissan's stake in Renault is only 15%. |
| Mr Ghosn was seeking to strengthen it before his arrest, according to the Financial Times, which reported that he had been planning a merger between Renault and Nissan - a deal which Nissan's board opposed. | Mr Ghosn was seeking to strengthen it before his arrest, according to the Financial Times, which reported that he had been planning a merger between Renault and Nissan - a deal which Nissan's board opposed. |
| But sources told the BBC that a full merger - to create a single company - "was never on the cards". | But sources told the BBC that a full merger - to create a single company - "was never on the cards". |
| Nissan boss Mr Saikawa insisted the partnership would "not be affected by this event". | Nissan boss Mr Saikawa insisted the partnership would "not be affected by this event". |
| But Mitsubishi Motors chief executive Osamu Masuko said the alliance would be difficult to manage without Mr Ghosn. | But Mitsubishi Motors chief executive Osamu Masuko said the alliance would be difficult to manage without Mr Ghosn. |
| Who is Carlos Ghosn? | Who is Carlos Ghosn? |