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News : About Nissan’s CEO a wanted fugitive!

News : About Nissan's CEO a wanted fugitive!

An internationally wanted fugitive, Nissan’s CEO, was arrested on 19 Nov. 2018.

Japanese multinational automobile manufacturing company now known as Nissan motor company was previously known as Kwaishinsha(Kwaishinsha) motor car works established by Masujiro Hashimoto on July 1, 1911. Before Nissan was officialized as Nissan, there were main changes made/done, due to which the shareholders were not very supportive. So Yoshisuke Aikawa owner of holding company Nihon Sangyo(Nihon Industries) bought out all the Tobata casting( merged company) shareholders(using capital from Nihon Industries). Later on due to such a big move Nihon Sangho Industries became the owner and the company name was changed to Nissan.

News : About Nissan's CEO a wanted fugitive!

 

After running smoothly for decades Nissan started facing several severe financial difficulties. It was, when Nissan hired Carlos Ghosn a Lebanese-Brazillian businessman, as their deputy and was charged with the task of bringing the company back to its track from near-bankruptcy. Under the control of Ghosn the company went under major financial and organizational changes, re-improving working methods and monopolizing research and development system, which were proven to be useful, according to stabilize the business conditions.

 

For successful turning around the near bankruptcy company, Ghosn was awarded numerous awards and was also selected for the CEO and chairman position in Nissan. Before being the CEO of Nissan, Carlos was the CEO of Michelin North America, chairman, and CEO of Renault, chairman of AvtoVAZ, chairman of Mitsubishi Motors, and chairman and CEO of Renault-Nissan-Mitsubishi Alliance. But as every successful person, at last, comes to an end, Carlos Ghosn’s glorious successful life also came to end when he was being suspected of misleading his salary and company assets report. He was arrested for proven guilty, but was released for lack of evidence, but was re-arrested on new charges for illegal funds.

News : About Nissan's CEO a wanted fugitive!

 

 

So he was removed from his both positions as well as was also voted out from the board by board members, and also lost the rights of shareholders. All the allegations were in the process, for being proven, still were bailed out. But instead of proving his innocence or accepting his flaws, Ghosn fled secretly from Tokyo to Lebanese breaking his bail conditions. Order was issued to Interpol for Ghosn’s arrest, but he is still away from the bars.

 

The impact of Carlos, former CEO of Nissan, an arrest was also seen on the company as its shares were decreased and we also effect in many ways, in which negative views and long-term shareholders were also included. But Nissan seems to be improved to some degree and is also trying to stabilize its situation and to get back to its previous top position.

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Written by Kajal Tiwari

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