TOKYO (AP) — The Latest on Mitsubishi Motors’ decision to dismiss Carlos Ghosn as its chairman after his arrest for suspected financial misconduct (all times local):
The board of directors of Mitsubishi Motors has voted to dismiss Carlos Ghosn as its chairman following his arrest for suspected financial misconduct.
The decision Monday follows Nissan Motor Co.’s unanimous board vote last week to dismiss him as its chairman. Mitsubishi is part of an alliance with Nissan and France’s Renault, SA, the top selling auto group last year.
Prosecutors arrested Ghosn on Nov. 19 on suspicion of under-reporting his income by $44 million over five years. Nissan Motor Co., which already has ousted him as its chairman, says an internal investigation found Ghosn abused company money and assets.
Ghosn’s arrest marked a stunning fall for an executive who dominated the Japanese auto industry for two decades and spearheaded Nissan’s alliance with Renault SA of France.
Ghosn also led the addition of Mitsubishi into the alliance. Nissan took a 34 percent stake in Mitsubishi in 2016.