This story requires our BI Prime membership. To read the full article,, former CEO and chairman of the Renault-Nissan-Mitsubishi alliance, was arrested in Japan in late 2018 on allegations of financial malfeasance. His fall from power was the most extraordinary in the history of the auto industry.
Ghosn is a complicated business leader. This is the story of his rise, fall, and Hollywood-worthy escape from a Japanese justice system that he's accused of abusing his human rights.Haggard, gaunt, and handcuffed, he appeared in a Japanese court after being arrested at Tokyo's Haneda Airport on November 19, 2018. The authorities later indicted him on charges of concealing income and violating the trust of the company he'd rebuilt from crisis to the global powerhouse: Nissan.
The household-name CEO had become an international fugitive, pursued by Interpol, and effectively seeking asylum in one of his multiple homelands. Netflix had to deny rumors that it had inked a deal with Ghosn. The mighty leader hadn't just fallen; he'd slipped its chains and was on the lam. And without question, the disgraced hero was a celebrity again.In November 2009, a younger Carlos Ghosn stood in the parking lot of Dodger Stadium, in Los Angeles, a man at the height of his power.
"It's a real car, not a golf cart," Ghosn told the scrum of reporters gathered in the November sunshine. Ford scion Bill Ford, the great-grandson of Henry Ford, has already tried to hire Ghosn to fix Ford Motor Co., but the deal died when Ghosn demanded both the CEO and the chairman-of-the-board titles. Undeterred, Bill Ford tried again in 2006, but by then Ghosn might've seen the writing on the wall. The next year, Ford would post a nearly $7 billion loss in the fourth quarter, its largest ever.
Ghosn often distanced himself from the notion that he was a reducer of companies; he was instead a self-styled visionary, charting a new course for carmakers held back by the influence of the state or the inflexible, hierarchical history of Japan's business culture, where Nissan has always existed in the long shadows cast by Toyota and Honda.
"That can work for a while," he said. And it did, until Nissan retreated from the tactics in the face of posting profitless quarters. Sales, understandably, took a hit, and the carmaker lost US market share. "The chickens have come home to roost," Brauer added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: Breakingviews - 🏆 470. / 51 Read more »
Source: USATODAY - 🏆 100. / 63 Read more »
Source: cnnbrk - 🏆 393. / 55 Read more »