Former Nissan Motor chairman Carlos Ghosn, one of the automotive industry’s most recognisable figure, has told Nikkei in an exclusive interview that he had “no doubt” that the criminal charges against him were the result of “plot and treason” by Nissan executives who are opposing his plan for deeper integration between Renault and its two Japanese alliance partners.
Speaking on the 10th floor of the Tokyo Detention House, dressed in a black fleece jacket and grey sweatpants, Ghosn – now visibly thinner after having lost around 10 kg since his arrest on November 19, 2018 – acknowledged that “there was a plan to integrate” Renault, Nissan and Mitsubishi Motors. The plans had been discussed with Nissan President Hiroto Saikawa in September, he added.
In his first media interview since being detained, Ghosn claimed that he wanted to include Mitsubishi Motors CEO Osamu Masuko in the talks, but “Saikawa wanted it one-on-one.” Once the three automakers were more closely integrated, Ghosn wanted to ensure there would be “autonomy under one holding company,” he said, adding that this plan was in line with how he had operated the alliance in past years.
Several allies of Ghosn’s have argued that some Nissan executives feared a further concentration of power under his leadership, prompting them to cooperate with Tokyo prosecutors. Ghosn’s 19-year leadership at Nissan has also been labelled as a dictatorship, to which he dismissed, saying this was a narrative created by rivals “to distort reality” for the “purpose of getting rid of me,” he said.
Furthermore, analysts have repeatedly speculated that Nissan executives were uncomfortable about the possibility of Renault and Ghosn seeking full control of the Japanese company. Nissan, which sells more vehicles than Renault, only has a 15% non-voting stake in the French company. Renault holds more than 40% of Nissan. However, a Nissan spokesman said that “the sole cause of this chain of events is the misconduct led by Ghosn.”
Ghosn has been in detention without bail for over 70 days since Tokyo prosecutors arrested him on allegations of financial misconduct. He was charged with underreporting his salary over several years, and aggravated breach of trust for allegedly using Nissan to shoulder his personal trading losses from foreign exchange contracts.
The breach-of-trust charges relate to the US$14.7 million (RM60.15 million) in payments to a company run by Saudi businessman Khaled al-Juffali. He denied the accusations and claimed “the executive in charge of the region signed [the approval].” The payment was made from Ghosn’s “CEO reserve,” a pot of money that he was free to decide how to spend. He said the “CEO reserve is not a black box” and “four officers signed” for the payment to al-Juffali.
There were also allegations of Ghosn receiving 7.82 million euros (RM36.8 million) in improper payments through Nissan-Mitsubishi B.V., a Netherlands-based joint venture between the two firms. Ghosn countered, stating that the venture was established for “synergy and not for payment,” adding that any claims of improper payments were simply a “distortion of reality.”
As for his luxury properties in Rio de Janeiro and Beirut, Nissan claims that the purchases of the homes were improperly paid for by a subsidiary company, although Ghosn objects, stating that the purchases were approved by the legal department. Pointing to a former loyalist and long-time executive in the legal department, Ghosn said: “Hari Nada has done all this.” He justified the houses on the grounds that he “needed a safe place where [he] can work and receive people in both Brazil and Lebanon.”
[Have I] done [something] inappropriate? I am not a lawyer, I don’t know the interpretation of [such] facts,” Ghosn said, showing his frustration over Nissan’s internal investigation. “These are known by everybody, why didn’t they tell me?”
Ghosn’s second bail request was rejected on January 22, with prosecutors fearing that he might tamper with evidence or possibly flee. “I won’t flee, I will defend [myself],” Ghosn said. “All the evidence is with Nissan, and Nissan forbids all employees to talk to me.”
After his arrest, the Brazilian-born Frenchman had plans to attend a Renault board meeting in Paris, explaining his position, and holding a news conference. But his prolonged detention in a Tokyo jail stifled those plans.
Ghosn has since been removed from his position as chairman of Nissan and Mitsubishi, and recently resigned as chairman and CEO of Renault, with former Michelin chief Jean-Dominique Senard appointed to fill the role. An extraordinary general meeting of shareholders scheduled in mid-April is exited to remove Ghosn as a director of Nissan Motor.
The three companies which form the alliance are expected to revisit how it is operated in the absence of Ghosn’s leadership. “I cannot speculate about the future of the alliance,” Ghosn said. The French government, Renault’s largest shareholder, has previously requested Ghosn make the relationship between the two automakers “irreversible.”
Following Ghosn’s arrest, France also informed Tokyo of an intention to press ahead with integration. Saikawa, in contrast, has insisted there is “no need for now to discuss [it].” When asked about life in the detention centre, Ghosn said “there is up and down.” As for his health, he simply said he was “doing fine.”
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Jepunis and backstabbing frens & partners, berpisah tiada.
And we all know who around here worships the Jap like can-do-no-wrong gods.
John, Proton and Rebadging, berpisah tiada.
That smirk of Ghosn, reminded us of a former. Equally cunning disrepute and lame.
Only here in PaulTan do i see people supporting Ghosn. You go to other websites or even Youtube comment section about Ghosn and his scandal, everyone is against him
The Donald?
Not me.. eh
Carlos crimes are nothing compared to the past Proton managements.
Li Chunrong in 6 months identified what made Proton bankrupt. He said it was the suppliers and vendors overcharging Proton big time.
The past management of Proton never saw this in 20 years and could never identify this.
They should all be prosecuted for aiding and abetting Proton’s downfall
Inb4 we plotek criminal at all cost. Cash is king #Maluapaboskurr
Basher no more modal does political bashing instead lol
Aren’t you the person who tells us Malaysia has the cheapest petrol in the world and cheapest car prices in the world?
I wish our Malaysians work hard like Ghosn. Look at Nissan sales….melambung tinggi!!
This is because Ghosn works hard. Never lepak, never tido, never MC and never look at awek kilang
Why is Nissan global sales “melambung tinggi” while ETCM sales is dropping like flies?
Reason is because their global sales team don’t spend all their time coming to blogs like Paul Tan and talk nonsense and lies about other car brands. They serve their customers and explain about their Nissan cars instead of constantly talking about their competitors, that until customers went to buy from other car brands. ETCM sales team can go fly kite and nobody cares because they aren’t even performing.
Walauwei! CNY coming and he is still in jail. How long more they will keep him? Until he breaksdown and forced to confess? Where is the humanity in all this?
He is not giving in to the pressure to confess yet. Really, if they wanted him to step down they could have gone with more humane ways.
Discuss & get approval frm Majlis Tertingi 1st.
Those Nissan executives are an ungrateful bunch. Let see how long Nissan can last under Japanese leadership. I won’t be surprised if there are more scandals uncovered down the line. Mitsubishi already got caught for treating their foreign workers basically like slaves.
Here comes all the keyboard warriors again…
I suggest you keep your opinions to yourselves unless you know someone who have had first hand experience working with Ghosn, and they’ve told you all the stories in detail…
“Nissan, which sells more vehicles than Renault, only has a 15% non-voting stake in the French company. Renault holds more than 40% of Nissan” should be a strong enough clue to tell you something is seriously wrong.
Speaking like someone who haven’t got a clue about the history of this Alliance huh? Let me educate Luddites a bit. Way back, Nissan was in deep, deep trouble. They were practically bankrupt and nearly burned their cash reserves. In comes Renault money to “save” them from bankruptcy and kickstart their revival. As part of the merger deal, Nissan had to give in more portions of their company regards to the puny stocks they hold on Renault.
For those who still can’t understand, basically Renault bought over Nissan but maintained their autonomy til now. The Japs took this for granted was not one bit grateful for their saviour.
You need some part of a ship to submerge in order to get the greater part of it to stay affloat. To me all of the accusations are small compared to the great job done by Ghosen. This seems like a story of buffalo got beaten by the croc it saved.
if you put this percentage number during nissan going to bankrupted, it is considered a good act by renault. 40% not just a number but it come with a cost ie capital injection and renault also bear the liability of nissan.
and now, if nissan rich enough why they didn’t buy back their share with renault? it should be strong enough clue to tell you something
john talks a lot about Ghosn and Nissan Alliance as if he works there. Good suggestion, keyboard warriors pls go fry goreng pisang.
Lol. Too bad john knows better about Ghosn and Nissan Alliance and automotive in general than you will ever know and you know why? Because he never tell lies again and again unlike a certain troll.
Saying that Malaysia has the cheapest petrol and car prices in the WORLD was not a lie?
Ok..
Yeah sure. I have been reading comments here and I have never come across that statement. On the other hand, I kept seeing that certain troll with his many names quoting Malaysia has the highest car prices and petrol prices in the world. It’s no brainer who I trust more and it’s certainly not that certain troll with his many fake names. From his comment above, I see you’re just another one of his many names. Are you that stupid?
At the very least, he is definitely more logical than the resident troll.
@Lolwhut?
https://paultan.org/2017/08/25/tun-m-wants-to-start-another-proton-if-pakatan-wins/
john: “Also, we should stop complaining about car prices as Malaysia has the cheapest car prices in the world. Our Government “subsidises” car prices to ensure rakyat get affordable cars.
Let us be grateful.
Poorly-rated. Like or Dislike: Thumb up 177 Thumb down 344 Reply”
Nissan execs knew Renault would never remove Ghosn without a big scandal hitting the news. So, they created this scandal. Is it so hard to fathom?
mr sotong, still driving almera?
Bro Octopus, Nissan was effectively bailed out by Renault from almost going bankrupt during the 1999 crisis. If Renault had stayed out, there will not be a Nissan today. French courts have also cleared Ghosn from any wrong doing.
I don’t really trust these Japs as they can be cunning. From forcing their foreign interns to do other crap, local emission scandals till the global Takata fiasco that lead them to their knees and lets not mention their Kobe Steel scandal that went on for 5 decades.
You tell me after all those BS coming from the Japs, who would you believe?
Every reply here focuses on the same thing, but what actually brought him down is something totally different which is not mentioned in any of the reports & also the courts.
Like I said, most likely none of you ever worked for him or even know anyone who worked directly with him.
As far as I am concerned, he deserves the punishment coming his way.
Anyways, carry on keyboard warriors….
To be honest, without Ghosen and Renault, people can only have their GTR in dream, not on road. Maybe some young people don’t even know the word/brand “Nissan”.
The revival of GTR and 350Z/370Z was his legacy in Nissan.
Nissan is ungrateful. I fully believe Carlos story. The world can see Japan Inc working to prevent foreign control. And their stupid legal system from the samurai era. Customers may punish Nissan if they are not careful.
Make Lebanon Great Again
to be honest , 20 million usd is no big sum for the ceo of the worlds number 1 auto company (in terms of sales). the leaders of felda, TH, dbkl managed to steal even larger sums during their tenure. and felda, TH, dbkl are puny compared to nissan-renault.