Nissan fires Carlos Ghosn from his chairman position but Renault has retained him
The future and growth of a company is on the hands of its Chairman, if he has the right vision then anything can be achieved and in the automotive industry there are some people like late Sergio Marchionne, our very own Ratan Tata with tremendous leadership qualities who can turn a company with massive losses to making huge profits.
Carlos Ghosn is one of them as he is the man who have taken initiatives to form the Renault-Nissan alliance, which helped both companies to move forward in the right direction and Nissan also bought a stake in Mitsubishi to form one of the biggest alliance in 2016 and they have become the world’s biggest car-seller last year.
He is also the man behind come back of Renault in Formula 1 and it was his vision to become one of the top racing team in the world. But he was arrested earlier this week in Japan for financial misconduct. Mitsubishi CEO Osamu Masuko said that “I don’t think there is anyone else on earth like Ghosn who could run Renault, Nissan and Mitsubishi.”
He also added that the immediate problem is that while we still have people at the top of Nissan and Mitsubishi but we don’t have anyone at the top of Renault. The tie-up between these three manufacturers was strengthened by the leadership of Carlos Ghosn but Nissan board fires him today.
After an internal investigation in Nissan, the officials have found out that Ghosn has used company money for his personal use and under-reporting for years, how much he was earning. But Renault officially announced that they will retain Carlos Ghosn and Thierry Bollore, the Chief operating officer will take his position until he is back from Japan.
The board of Renault took this decision as they want to keep the company on a steady course to preserve the interests of the group and the continuity of its operations. The prosecutors of Ghosn hasn’t said anything public yet and we will get more details in coming days as it will be the fall of one of the great automotive leader.