The Latest: Nissan shareholders OK ousting Ghosn from board

By The Associated Press April 7, 2019 at 9:22pm

TOKYO (AP) — The Latest on Nissan Motor Co. and its former chairman, Carlos Ghosn (all times local):

1:20 p.m.

Shareholders of Nissan Motor Co. have approved removing its former chairman, Carlos Ghosn, from its board.

The approval Monday was shown by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders’ meeting. Other votes had been submitted in advance.

The shareholders also approved the appointment of Nissan’s French alliance partner Renault SA’s chairman, Jean-Dominique Senard, to replace Ghosn. They likewise gave a green light to removing from the board Greg Kelly, who is charged with collaborating with Ghosn in the alleged misconduct.

Ghosn is facing financial misconduct charges and was arrested in connection with fresh allegations and taken back into custody last week after spending barely a month out of detention on bail.

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10:52 a.m.

Nissan Chief Executive Hiroto Saikawa has apologized to shareholders for the unfolding scandal at the Japanese automaker and asked for their approval to oust from the board former Chairman Carlos Ghosn, who has been arrested on financial misconduct charges.

Saikawa and other Nissan Motor Co. executives bowed deeply at a Tokyo hotel Monday, where the extraordinary shareholders’ meeting was being held.

Shareholders are also voting to approve the appointment of Renault Chairman Jean-Dominique Senard in Ghosn’s place.

French alliance partner Renault SA owns 43 percent of Nissan.

Also on the ballot agenda is the removal of Greg Kelly, a board member who is charged with collaborating with Ghosn in the alleged misconduct.

Ghosn is being held at the Tokyo Detention Center.

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