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Renault-Nissan: a year ago, the arrest of Ghosn caused a shockwave

2019-11-18T23:28:38.606Z

A year ago to the day, the almighty boss of the Renault-Nissan alliance was arrested on his descent by the Japanese police, accused of financial malfeasance. Orchestrated or not, this arrest, by its brutality, had consequences ...



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Carlos Ghosn, revered in Japan for saving Nissan from bankruptcy, was arrested on November 19, 2018, in Tokyo. REUTERS / Regis Duvignau

A year ago to the day, the all-powerful boss of the Renault-Nissan alliance was arrested when he was dropped off by the Japanese police, accused of financial malfeasance. Orchestrated or not, this arrest, by its brutality, had major consequences for the image of the boss and the balance of the alliance.

An earthquake. When Carlos Ghosn was arrested in Tokyo on November 19, 2018, the Emperor was at the height of his power, combining the functions of Renault's CEO and the alliance he raised to the rank of No. 1 worldwide.

His conditions of incarceration are described as rudimentary, hard for him who was accustomed to live in the greatest luxury. His requests for release have always been denied.

Renault and Nissan must find him a replacement. Complex task as he ended up concentrating power and incarnate the group after almost twenty years at its head.

In addition to the sums it has unduly received, it is this governance that is criticized by the Japanese partners, as well as the merger project attributed to Carlos Ghosn.

In an attempt to restore confidence, Dominique Sénard has been appointed head of Renault and the alliance. At Nissan , the heads continue to waltz. Management has just changed for the third time in less than a year. Even Ghosn's scorer, Hiroto Saikawa , had to quit his second- in-number role, which in turn was targeted by a financial scandal.

Meanwhile, Carlos Ghosn, on whose shoulders that once rested this heterogeneous set, continues to scrap with the French and Japanese judges.

He always asks for the abandonment of the prosecution . Carlos Ghosn has been under house arrest in Tokyo since being released on bail in April. His trial is expected in March 2020.

Source: rfi

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