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You can find the current article at its original source at https://www.theguardian.com/business/live/2018/nov/22/carlos-ghosn-nissan-board-meeting-misconduct-business-live
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| Nissan board fires chairman Carlos Ghosn for financial misconduct - as it happened | Nissan board fires chairman Carlos Ghosn for financial misconduct - as it happened |
| (8 days later) | |
| And finally, here’s our news story on Carlos Ghosn’s dismissal: | And finally, here’s our news story on Carlos Ghosn’s dismissal: |
| Nissan board sacks chairman Carlos Ghosn after 'serious misconduct' claims | |
| While the Nissan board meeting took place, Carlos Ghosn remained confined in a solitary cell, in a detention centre in Tokyo. | While the Nissan board meeting took place, Carlos Ghosn remained confined in a solitary cell, in a detention centre in Tokyo. |
| Conditions are austere - just 30 minutes of daily exercise and two baths a week. Quite a shock for a millionaire who celebrated his second marriage with a glittering party at Versailles. | Conditions are austere - just 30 minutes of daily exercise and two baths a week. Quite a shock for a millionaire who celebrated his second marriage with a glittering party at Versailles. |
| AFP has more details: | AFP has more details: |
| While it is impossible to know Ghosn’s exact surroundings, lawyers who have made several visits there to clients as well as former detainees paint a picture of an austere facility where solitude is the biggest enemy. | While it is impossible to know Ghosn’s exact surroundings, lawyers who have made several visits there to clients as well as former detainees paint a picture of an austere facility where solitude is the biggest enemy. |
| Veteran attorney Yoshiro Ito said the barren rooms have nothing but a bed, toilet, and a handle-less door with an iron-barred window. | Veteran attorney Yoshiro Ito said the barren rooms have nothing but a bed, toilet, and a handle-less door with an iron-barred window. |
| Detainees follow a strict routine. Wake-up call is shortly before 7am and lights out at 9pm. | Detainees follow a strict routine. Wake-up call is shortly before 7am and lights out at 9pm. |
| Breakfast, lunch and dinner are provided. For an extra charge, inmates can order additional food from pre-approved options. | Breakfast, lunch and dinner are provided. For an extra charge, inmates can order additional food from pre-approved options. |
| The Japan Times have more details of the allegations against Carlos Ghosn, including that he instructed board representative Greg Kelly (also dismissed today) to under-report his true salary: | The Japan Times have more details of the allegations against Carlos Ghosn, including that he instructed board representative Greg Kelly (also dismissed today) to under-report his true salary: |
| Also this, in Japan Times #Ghosn #Nissan pic.twitter.com/4Lsf1UxGAV | Also this, in Japan Times #Ghosn #Nissan pic.twitter.com/4Lsf1UxGAV |
| The speed of Carlos Ghosn’s fall from grace is quite astonishing. | The speed of Carlos Ghosn’s fall from grace is quite astonishing. |
| So much, in fact, that there’s speculation that he’s been deliberately bundled out by Nissan, perhaps to thwart plans for a formal merger with Renault. | So much, in fact, that there’s speculation that he’s been deliberately bundled out by Nissan, perhaps to thwart plans for a formal merger with Renault. |
| Christian Stadler, Professor of Strategic Management at Warwick Business School, explains: | Christian Stadler, Professor of Strategic Management at Warwick Business School, explains: |
| “The intriguing twist in this story is the speculation whether this was a deliberate move by Japanese executives to get Ghosn out of the picture. | “The intriguing twist in this story is the speculation whether this was a deliberate move by Japanese executives to get Ghosn out of the picture. |
| “I think it is unlikely they did not know about Ghosn’s financial arrangements. | “I think it is unlikely they did not know about Ghosn’s financial arrangements. |
| “However, it is possible that story this came to light because new rules for whistle-blowers in Japan made it easier for someone to come forward. | “However, it is possible that story this came to light because new rules for whistle-blowers in Japan made it easier for someone to come forward. |
| Keiko Ihara could be the new broom that Nissan needs.... | Keiko Ihara could be the new broom that Nissan needs.... |
| OK one of the coolest things about tonight's Nissan statement is that one of the most important people in the company, on both of the key newly-established committees, is kick-ass racing driver Keiko Ihara: pic.twitter.com/Ma16nJRuf7 | OK one of the coolest things about tonight's Nissan statement is that one of the most important people in the company, on both of the key newly-established committees, is kick-ass racing driver Keiko Ihara: pic.twitter.com/Ma16nJRuf7 |
| She's an economics grad so should know her stuff. At the same time, she's only been with Nissan a few months -- which in the circumstances you can regard either as an asset or a deficit | She's an economics grad so should know her stuff. At the same time, she's only been with Nissan a few months -- which in the circumstances you can regard either as an asset or a deficit |
| Nikkei has a graphic explaining the way Ghosn allegedly used to buy luxury homes in Lebanon and Brazil. According to the paper, he used companies in Netherlands and Lebanon, as well as a co in the Virgin Islands pic.twitter.com/nMkGsQ47fr | Nikkei has a graphic explaining the way Ghosn allegedly used to buy luxury homes in Lebanon and Brazil. According to the paper, he used companies in Netherlands and Lebanon, as well as a co in the Virgin Islands pic.twitter.com/nMkGsQ47fr |
| Nissan is also setting up an advisory committee to find potential successors to Ghosn. | Nissan is also setting up an advisory committee to find potential successors to Ghosn. |
| It will be consist of three board members, including Keiko Ihara, a leading female Japanese racing driver -- but not Hiroto Saikawa, the CEO who has been suggested as a possible new chairman. | It will be consist of three board members, including Keiko Ihara, a leading female Japanese racing driver -- but not Hiroto Saikawa, the CEO who has been suggested as a possible new chairman. |
| Nissan has decided to consider creating a “special committee” to examine its corporate governance. This would include developing “better governance of director compensation”. | Nissan has decided to consider creating a “special committee” to examine its corporate governance. This would include developing “better governance of director compensation”. |
| Today’s decisions, including to dismiss chairman Carlos Ghosn, were unanimous, Nissan says. | Today’s decisions, including to dismiss chairman Carlos Ghosn, were unanimous, Nissan says. |
| The company adds that: | The company adds that: |
| At the beginning of the session, the board acknowledged the significance of the matter and confirmed that the long-standing Alliance partnership with Renault remains unchanged and that the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners. | At the beginning of the session, the board acknowledged the significance of the matter and confirmed that the long-standing Alliance partnership with Renault remains unchanged and that the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners. |