Paul Jeffrey
Premium
Renault chairman and long time Formula One advocate Carlos Ghosn arrested in Japan for alleged fraudulent activity.
Ghosn, 64, has reportedly been arrested in Japan for alleged financial misconduct whilst at the head of both the Renault and Nissan brands. With criminal proceeding set to commence against the charismatic French-Brazilian-Lebanese businessman, it is expected that the current Nissan Motor Chairman will be fired from his role later this week.
Nissan CEO Hiroto Saikawa has expressed his disappointment at the behaviour of Ghosn following an investigation based on allegations raised by a whistle-blower within the organisation:
“Looking back, the concentration of power was something we need to deeply reflect on,” he said, confirming the arrest of Ghosn in Japan.
“To have so greatly violated the trust of many, I feel full of disappointment and regret,” Saikawa told a news conference.
“It is very difficult to express this…. It’s not just disappointment, but a stronger feeling of outrage, and for me, despondency.”
“It is very difficult to express this…. It’s not just disappointment, but a stronger feeling of outrage, and for me, despondency.”
Ghosn is widely credited as the man behind the resurgence of the Nissan brand in recent years, having served with Renault since 1996 as executive vice president in charge of purchasing, advanced research, engineering and development, powertrain operations, and manufacturing, moving through to company to become a key player within the Renault ranks and playing a pivotal role in the alliance between Renault and Nissan.
Ghosn would play no small part in the push to return Renault to works status in Grand Prix racing, taking over the then Lotus team to return the French manufacturer back to Formula One following the controversial exit following a conviction for cheating during the 2008 Singapore Grand Prix race meeting.
With duel roles at the head of both Renault and Nissan, Ghosn would continue to spearhead the company motorsport activities in Formula One for Renault and now Formula E with Nissan, before the bombshell of his arrest dropped earlier today.
With Ghosn now out of the picture, it remains to be seen how or even if the news will have any effect on the motorsport activities of both brands.
