Nissan shareholders OK ouster of ex-chair Ghosn from board

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Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct.

The approval, which was expected, was indicated 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.

Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 per cent of Nissan. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged.

Ghosn says he is innocent of all allegations and has suggested the accusations were made by some people at Nissan hoping to remove him from power. His detention on that allegation has been approved through April 14 but could be extended. The date of his trial has not been set."I'm asking that we allow him the presumption of innocence like all French citizens, and France must do something," she told France's RTL radio.

Ghosn's lawyers in Japan said that Tuesday they will show a videotape of Ghosn's comments. It was taped before he was taken into custody.

 

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