Nissan CEO calls on Renault to listen to detail of Ghosn allegations

Nissan Motor’s CEO called on directors at alliance partner Renault to heed its reasons for sacking former Chairman Carlos Ghosn over alleged financial misconduct amid tensions over how to handle the fallout from his arrest.

Renault’s interim chairman Philippe Lagayette said on Friday that its board had not considered replacing Ghosn, who was ousted by Nissan days after his arrest in Japan in November, as head of the French carmaker.

Ghosn has denied wrongdoing, media reports say, although he has not made any public statements since his arrest.

“We hope the board will listen to our explanation,” Nissan Chief Executive Hiroto Saikawa told reporters after a board meeting of the Japanese carmaker at which it confirmed plans to strengthen corporate governance following the Ghosn crisis.

Although sources familiar with the matter say Nissan has briefed Renault lawyers on its findings relating to Ghosn’s alleged misconduct, Renault directors have yet to be given access to the full information.

“We understand that the raw details of the misconduct have yet to reach each of Renault’s board members,” Saikawa said of the allegations against Nissan’s once-revered boss.

Nissan said it has already shared its findings with the board of Mitsubishi Motors, which is the third, junior member of the carmaking alliance.

While Nissan is almost 60 percent bigger by sales, it remains the junior partner in their shareholding hierarchy to Renault, which owns a 43.4 percent in its Japanese partner.

Nissan has a 15 percent non-voting stake in Renault, whose biggest shareholder is the French state with 15 percent.