Dec. 17 (UPI) — The board of Nissan Motor Co. on Monday decided not to immediately replace former Chairman Carlos Ghosn — and instead chose to divide his duties.
Board members met Monday to discuss the matter, and were expected to appoint a successor to Ghosn. They chose to appoint a committee of independent third-party members to investigate corporate governance.
Nissan CEO Hiroto Saikawa said a new chairman could be named after the committee offers its recommendations, by March 2019.
Ghosn was arrested and fired last month on accusations he under-reported his compensation and misused company funds. He was formally charged this month and remains in jail.
The Nissan company was also indicted, which prompted the company to review its own governance. The scandal has widened a divide between Nissan and its largest shareholder and partner, Renault.
Nissan, Renault and Mitsubishi form the world’s largest automotive alliance. The future of that coalition has been in doubt since Ghosn’s arrest.
Renault is seeking an immediate Nissan shareholders meeting to address the indictment and governance issues, but Saikawa is waiting for the committee report, Bloomberg reported.
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