Tuesday , May 18 2021

Renault boss arrested in Tokyo. What happened to the owner of Dacia. Reaction by the President of France



General Motors Renault Nissan-Mitsubishi Motors, Carlos Ghosn, was arrested Monday in Tokyo, according to NHK, after the former Ghosn was accused of irregularities by Japanese manufacturer Nissan Motor Co. , tell AFP.

"The Tokyo Prosecutor's Office arrested Carlos Ghosn who was suspected of violating financial laws", argues for NHK, as appropriate Agerpres.

The information was also confirmed by the Yomiuri newspaper.

Previously, Japanese car manufacturer Nissan Motor Co held a press conference at its headquarters in Yokohama, on the outskirts of Tokyo, an opportunity to notify President Carlos Ghosn, Chair of the Board of Directors,for years ", said tax income is below the real value.

According to the results of an internal investigation, "Other irregularities have been found, such as the use of company assets for personal purposes", said the Japanese carmaker, adding that it would propose to the dismissal of the Board of Directors of Carlos Ghosn "as soon as possible".

Nissan said he provided information to prosecutors and worked with them during their investigation.

French carmaker Renault posted a decline of almost 5% on Monday after the outbreak. At around 10:30 local time (9:30 GMT) on the Paris Stock Exchange, Renault shares fell 4.81% to 61.40 euros on the market 0.55%.

What's with Renault. Emmanuel Macron's reaction

France will do its best to maintain Renault stability and its alliance with Nissan, President Emmanuel Macron said Monday after Nissan carmaker Nissan accused Carlos Ghosn of violating financial laws.

"Although it is too early to comment on the authenticity of the allegations, I still do not have much information. However, as a shareholder (Renault), the French Government will remain very vigilant about the stability of the alliance, the Renault group and its employees, who enjoy full state support", said Emmanuel Macron at a joint conference in Brussels with Belgian Prime Minister Charles Michel.

The French state has a 15% stake in Renault, which in turn holds a 43.4% stake in Nissan.

In June of this year, Renault's Annual General Meeting of shareholders, which also approved the new four-year mandate for Carlos Ghosn, was 56 percent in favor of EUR 7.4 million paid to Ghosn last year which added 9.2 million euros accepted by Carlos Ghosn as president of Nissan.

At the age of 64, Carlos Ghosn of France-Brazil arrived in Tokyo in the spring of 1999 to repair Nissan, which had recently formed a partnership with Renault, and in April 2017 he came out as general manager of a Japanese manufacturer but he held the post of chairman of the Board of Directors. From this position, Carlos Ghosn was paid for April 2016-2017 with around 1.1 billion yen (8.8 million euros at that time).

Under the leadership of the French Renault group in 2005, Carlos Ghosn has succeeded in gaining shareholder trust through the results he has achieved with Renault and with Japanese partners Nissan. "A leader is the first and foremost to produce performance ", said Carlos Ghosn.

The Renault-Nissan Alliance, expanded in 2016 by including Mitsubishi, became the world's largest carmaker with 10.6 million units last year, more than Volkswagen and Toyota.

Under the leadership of Carlos Ghosn, the alliance of Renault-Nissan was financially consolidated and was the first group to invest consistently in electric cars, so it is currently the world leader in this segment. After the initial Renault-Nissan alliance was ridiculed for investment in electric cars, competition has recently begun to follow suit, so the market has increased.

As the Chief Executive Officer of Renault-Nissan-Mitsubishi Motors, as well as the President-General of Renault and President of Nissan and Mitsubishi, Carlos Ghosn is the key voting that ensures balance in the expanded group. Ghosn has succeeded in combining different styles of government that respect cultural differences so that alliances can achieve economies of scale comparable to integrated societies.

At present, Alliance groups 10 car brands (including Dacia, Lada, Samsung Motors, Alpine, Infiniti, Datsun, etc.) with 470,000 employees and 122 factories on all continents.

However, this complex ensemble operation, based on cross-participation, non-majority participation, cast doubt on its survival outside the Ghosn era.

Known as 'cost killer', Ghosn has made a reputation for turning bankruptcy companies into very profitable companies. This Brazilian Franco-Libiano has traveled throughout the world since its birth. The itinerary between Brazil, Lebanon, France, the US and Japan has turned it into a multilingual language that can quickly move from one culture to another.

A polytechnic graduate, father of four children born in Brazil from a Lebanese family, Ghosn began his career at Michelin where he climbed the hierarchical scale to second place. In 1996, he was recruited to Renault by general manager Louis Schweitzer who appointed him as his successor.

Dacia was taken over by Renault in 1999. Relaunched in 2004 with Logan, Dacia has become a well-known player in the European car market.



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