Wednesday , August 17 2022

Who is Carlos Ghosn, a car superman arrested in Japan


Who is Carlos Ghosn, a car superman arrested in Japan


Carlos Ghosn

Ghosn, which was withdrawn by its company and accused by the Japanese judicial authority, is safe. Brazilian manager of Lebanese origin, who led the global alliance of the Renault-Nissan-Mitsubishi car, was arrested in Tokyo after interrogation in Procure, where he spontaneously introduced himself. He is accused of numerous crimes: he should use the company's funds for his own profits and, above all, in his official communications, he would systematically reduce his income as compared to the amounts actually received.

To be seen, they are not only Japanese judges, but his own company, Japanese Nissan, who, at the end of the internal investigation, highlighted the abuse Ghosh had entrusted to him and had already called for advice in which he proposed to shoot at him. Reports of the arrest brought the Renault title to the Paris Stock Exchange, which lost 12%. Meanwhile, French President Emmanuel Macron has assured that the state will be "very alert" to maintain the "stability of the alliance and the group".

"Cost killer"

Ghosn, 64, who joined Renault in 1996, has built a reputation as a "cost killer," a "cost killer" based on the ability to turn companies into bankruptcy into profitable companies, such as Nissan's Managing Director. In 1999, he joined Japan after Renault acquired 44% of the second Japanese car brand. In Nissan, leadership has changed, building up the base of turnaround towards the automotive industry and launching Leaf, which has become the world's best-selling automobile.

The success achieved by Nissan's management served Ghosn as a springboard, which became the Executive Director of Renault and Nissan on May 1, 2005 and replaces Louis Schweitzer. After Gnosn became CEO of Renault and Nissan for more than a decade, he left on April 1, 2017, leaving Nissan's leadership and retaining his position as Chairman of the Board of Directors to focus on the Renault-Nissan Alliance, which, thanks to the fundamental contribution of buying 34% Mitsubishi won first place among world class designers for the number of cars sold in 2017, surpassing Volkswagen and Toyota.

Mitsubishi's entry into the Renault Nissan space allowed the Japanese group to use existing platforms based on models such as Renault Clio and Nissan Qashqai, while French and Nissan were able to use the developed hybrid system from Mitsubishi. This technology change will allow the Alliance's three buildings to be allocated in the future for significant savings that will be earmarked for huge investments that will have to consolidate the Renault-Nissan-Mitsubishi alliance.

Clash with Paris for a reward

Ghosn is not a new conflict with the money authorities. His fee, one of the highest among the French leaders, was confronted in 2015 with the French state, a 15% shareholder of Renault. As Director-General of Nissan Ghosn, he received a salary of nearly 1.1 billion yen (8.8 million euros) from April 2016 to March 2017. In addition, he earns more than 7 million euros per year as Renault's CEO. In June 2017, Reuters said the alliance considered a hidden bonus scheme for its executives through a company based in the Netherlands. Ghosn has always refused such treatment. In February 2018, however, Ghosn agreed that his salary would be reduced by 30%, a condition that the French state required to support its appointment for the next four years.

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