Renault’s board of directors has decided to forgo paying any compensation to Carlos Ghosn following his resignation as chairman and CEO at the French carmaker. According to Bloomberg, Ghosn won’t benefit from a non-compete agreement that would have paid him two years’ compensation, which is said to amount to about 11 million euros.
Additionally, Renault also plans to withhold stock-based pay (amounting to millions from 2015 to 2018) from Ghosn that was dependent on his continued presence in the company. In an official statement, the company said, “the board unanimously notes that such condition is not met, thereby triggering the loss of Ghosn’s rights to the definitive acquisition of such shares.”
Prior to this, Renault revealed that its internal audits revealed that a contribution of 50,000 euros was made under a charitable donation agreement to Château de Versaille, which was allocated to facilitate Ghosn’s lavish wedding there. To date, Ghosn is still named a director of Renault despite resigning from the above-mentioned positions.
Renault’s board will convene again on March 15, 2019 to decide upon the remuneration of Ghosn for the financial year 2018. Ghosn remains under custody in Japan since his arrest in November last year, and has since hired a new legal team.
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Renault board agreed his wrongdoings. At last.
Between the man who had resigned and the company they still have to stomach no matter how terrible it is, they chose the company.
As for the man, the French courts have cleared him from any wrongdoings.
This guy is innocent. He is just the fall guy.
Poor Ghosn, he saved the almost bankrupt Nissan and this is how the Japanese gov treat him. He got backstabbed by the new CEO and arrested on made up charges. I thought the Japanese were nice and humane people but this case really showed their imperial thinking still have not changed despite getting nuked 2 times by the Americans.
Ghosn smirk remind of Dr evil and previous pm :)
And our current pm frown remind me of a certain Deutsche ruler in 1945.
11 mil euros only, damm little even in bolehland.
Not pure coincidence Carlos Ghosn fall, coincide Malaysia spectacular rise Q4 2018 GDP exceeded forecast ,
I think he can resign and become a politician.