Nissan Board Votes to Oust Chairman Carlos Ghosn

Nissan’s board of directors has voted unanimously to dismiss Carlos Ghosn as chairman following his arrest on suspicion of financial misconduct. Ghosn, who’d been at the helm of the Japanese automaker for nearly two decades, was detained in Tokyo on Monday and accused of under-reporting his salary and misusing company assets. The company confirmed his ouster in a statement Thursday, saying it hopes to minimize the impact from his case on its alliance with Mitsubishi and France’s Renault. A decision was made to ax Ghosn after board members reviewed a report detailing the internal investigation into his alleged misconduct, the company said. Another senior executive, Greg Kelly, has also been dismissed from the board in connection with the alleged misconduct. Ghosn’s arrest left investors rattled earlier this week and sparked concerns that it may be part of a bid by the company to rebalance power in its alliance with Mitsubishi and Renault, which Ghosn also chairs.