
The news was first reported by the Asahi Shimbun, which claimed it had "learnt that the Tokyo Prosecutor's Office asked Nissan chairman Carlos Ghosn on the evening of the 19th [of November] to come in voluntarily on allegedly violating the Financial Instruments and Exchange Acts, as he is suspected of underreporting his salary".
Nissan's high-flying chairman Carlos Ghosn is to be dismissed after the Japanese vehicle giant said an internal investigation found he under-reported his income and engaged in other "significant misconduct".
It said an investigation found that Ghosn and another board member had been under-reporting Ghosn's compensation.
Mr Ghosn, a towering figure in the vehicle industry, will be sacked from the Japanese firm after a board meeting on Thursday, its chief executive said.
Nissan's official statement said that, based on a whistleblower report, "Nissan Motor Co Ltd (Nissan) has been conducting an internal investigation over the past several months regarding misconduct involving the company's representative director and chairman Carlos Ghosn and representative director Greg Kelly".
He said the company had uncovered years of financial misconduct including under-reporting of income and inappropriate personal use of company assets.
Renault's market value dived by €2bn (£1.78bn) to €17bn after the report, with shares falling by 11%.
He served as Nissan's chief executive from 2001 until April 2017, becoming chief executive of Renault in 2005, leading the two major automakers simultaneously.
In the hours after news broke of Ghosn's alleged behaviour, both Nissan and Renault reaffirmed their commitment to the carmaking venture.
Ghosn is one of the global auto industry's top executives.
Deadpool Gets New Sidekick In 'Once Upon A Deadpool' Trailer
While you can expect this version of Deadpool 2 to be altered, don't expect too much new footage. "I've said no since 2006". And this version is, as Wade tells a tied down Fred Savage , filtered through the prism of childlike innocence.
"Nissan deeply apologizes for causing great concern to our shareholders and stakeholders", the automaker said today.
"This is an act that can not be tolerated by the company", he said.
"We need to really look back at what happened, take it seriously and take fundamental countermeasures", he said.
Mr Ghosn is also in charge of the Renault Nissan Mitsubishi alliance - the world's biggest car-selling group.
Brazilian-born, of Lebanese descent and a French citizen, he began his career at Michelin in France before moving on to Renault.
French President Emmanuel Macron warned Paris would be "extremely vigilant" about the stability of Renault and the three-firm alliance after Ghosn's arrest.
The company has also been cooperating with an investigation by the Japanese Public Prosecutors Office. But experts said it is unlikely he will be able to stay on there or at Renault, where is also CEO.
He is credited with saving Nissan from bankruptcy through measures including closing plants and restructuring, and he has instant name recognition in Japan, where he is a rare high-profile foreign executive.
But he remained out of the spotlight previous year when Nissan was forced to recall more than 1 million vehicles after it was found to be using unqualified inspectors to carry out checks at its domestic factories.
He also never made it a secret that he believed there were too many carmakers in the world and consolidation would continue - in 2016 he added Japan's Mitsubishi Motors Corp to the alliance.
Related News:
-
Francesco Molinari crowned Race to Dubai victor to cap off incredible year
Danny Willett has won the season-ending DP World Tour Championship in Dubai - his first title since the 2016 Masters. To achieve those things in one single season is just incredible.Couple killed in a crash on the way to their wedding
The Council Borough of Fanwood, New Jersey, where Schurtz's mother Karen worked as a councilwoman also paid tribute on Facebook . Schurtz lived in Jersey City, New Jersey, and was head of platform partnerships for Oracle Data Cloud in New York City.Priyanka Chopra Praises Nick Jonas for Opening Up About Diabetes Struggle
Never let anything hold you back from living your best life. 'Thank you to all my fans for your kind words and support. That, ladies and gentlemen, is love for you. -
Oil falls after Russian Federation preaches patience rather than production cuts
US futures were up 15 cents to $56.61, after dropping as low as $55.08, near last week's one-year low. Crude oil futures for January, the most active contract, ended up $0.52, or 0.9%, at $57.20 a barrel.Washington Wizards' John Wall, Bradley Beal available in trade scenarios
Starting in 2019-20, Wall is slated to make $38.15 million, and by 2022-23, his age 33 season, that number jumps to $47.3 million. Regardless, it's becoming more and more apparent a change and perhaps major overhaul is needed in Washington.Alexander Zverev charms crowd after beating Novak Djokovic
Open before finishing their season in style in London. "This could be our last hoorah because Bob's training back in Florida". Roger was on the point and was putting him on the back foot but you could see on the replay that it did actually happen. -
Chipotle may rehire manager who refused serving black men
Masud Ali, the customer who posted a series of videos of the incident to his Twitter account, accused the manager of racism. They apologized for the accusations leveled at his group by the manager and informed him that she had been fired.Corruption still in focus as Nigeria's Buhari launches re-election bid
President Muhammadu Buhari on Sunday launched the All Progressives Congress, APC, Road Map for the 2019 Campaign. Buhari said Nigeria had a chance to make "a break from its tainted past which favoured an opportunistic few".Eddie Jones expects 'good scrap' between England and Australia
Australia back-row David Pocock is a doubt for Saturday's Test match against England at Twickenham with a neck injury. That try bolstered the hosts' belief as they laid siege to the Wallabies' tryline. -
Senior Houthi rebel calls for halt to attacks in Yemen
He hopes to convene talks before the end of the year in Sweden to agree on a framework for peace under a transitional government. Yemenis rely on commercial and humanitarian imports of food and essential supplies.Trump Offered to Nominate Ricardel as Ambassador to Estonia, Sources Say
When her husband was elected president, Melania Trump retreated to Trump Tower, seemingly tentative about her new role. She recently said she considers herself to be one of the most bullied people in the world.Sony Interactive Entertainment is Skipping E3 2019
This year, 2.9 million people watched the E3 announcements unfold, so hopefully in 2019, we'll continue to see that number grow. Usually held in December, the PlayStation Experience expo was established in 2002 and showcases upcoming games for the console.