Monday , June 14 2021

14:19 – Gosn freed from all sides, announced the Renault-Nissan alliance



The French government also released Carlos Gosnn, who is still in jail in Japan on Tuesday, for suspicion of violations, and whose sudden fall is made by the car empire he built with his wife Renault, Nissan and Mitsubishi Motors.

French Economy Minister Bruno Le Mara urged Renault on Tuesday, whose country holds 15 percent, to immediately put in temporary management because "Mr. Gosn is today prevented from leading the company." Renault's board of directors is scheduled to meet tonight.

Nissan's board of directors will vote on the dismissal of its president on Thursday morning. Mitsubishi Motors (MMC) also intends to "quickly resolve".

Released on all sides, Carlos Gosnn, who was considered 64 years as one of the world's most powerful captains, was still arrested in Tokyo, where he was arrested on Monday by his private jet. The leader of the largest car group in the world received the visit of the French ambassador "under consular protection".

The Japanese prosecutor accused the French-Lebanese-Brazilian of having "a conspiracy to minimize his compensation five times between June 2011 and June 2015," announcing only 4.9 billion yen (about 37 million euros at the current price)) of nearly 10 billion yen during the period.

On an unusually brutal press conference, Niro Hirot Saikawa's executive director also mentioned on Monday "a number of other types of embezzlement, such as the use of corporate property for personal gain," were allegedly discovered after several months of internal investigation.

According to local media, the Nissan subsidiary financed the purchase of luxury homes in four countries, a property in which Mr. Gosn went free as he pleased. In addition, according to NHK's public channel, he allegedly appropriated sums published on behalf of other executives.

The boss's award as a powerful secret has already led to much controversy, while his way of life has also been able to make comments, such as his wedding reception with a great pomp at the Palace of Versailles in 2016.

Carlos Gosn received about 15m euros annually for his various positions, especially high for European or Japanese industrialists, albeit far from the huge wages paid, for example, to finance in the United States.

– Fragile balance –

Beyond Mr. Gosn's personal destiny, it is the whole alliance of Renault-Nissan-Mitsubishi Motors, which organized the fragile balance that followed this thunder.

We just need to hear the rude words of Nissan's chief, Mr. Saikawa, against one who was a mentor and highly respected person in Japan: "It's a problem that so many authorities have assigned to one person," he said, condemning " the dark side of the Gosn era ".

"In the end, it's just a matter of money," a Nissan spokesman told the daily Jomouri. "He urged his subordinates to meet difficult targets, but he himself still gets a high salary, even when Nissan's activities are not doing well," the newspaper adds.

The case comes as the CEO of all 10.6 million vehicles worked to make connections "irreversible" between Renault and Nissan, commented Kentaro Harada, a SMBC analyst at Nikko Securities.

"We can not rule out the possibility that the alliance will be weakened." "Will this change the balance of power (between French and Japanese parties) is the main issue," he said.

The rating agency Standard & Poor's also announced on Tuesday that it plans to lower the rating of Nissan's long-term debt, especially due to suspicions of marriage with three.

Shares of Japanese car makers in Tokyo on Tuesday were closing at 5.45% for Nissan and 6.84% for the MMC.

In Paris, the title of Renault continued to lose ground at noon, fell slightly more than 2% after already unscrewing 8.43% on Monday.

© 2018 AFP. All rights of reproduction and representation are reserved. All information reproduced in this section (news, photos, logos) is protected by the rights of intellectual property held by AFP. Therefore, none of this information can be reproduced, modified, published, translated, used commercially or re-used in any way without the prior written consent of AFP.


Source link