Carlos Ghosn Ousted as Nissan Board Director

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Nissan Motor Co. officially cut all ties with embattled former longtime Chairman Carlos Ghosn on April 8, dismissing him from its board of directors in an extraordinary shareholders' meeting in Tokyo.

Meeting shareholders for the first time since Ghosn's arrest rocked the global auto industry a year ago, Chief Executive Hiroto Saikawa started proceedings at a Tokyo hotel by apologising for the inconvenience the scandal had caused, followed by a deep bow of contrition from him and a panel of executives and directors.

His arrest last week, the fourth since November, involved fresh allegations that $5 million sent by a Nissan Motor Co. subsidiary and meant for an Oman dealership was diverted to a company effectively controlled by Ghosn.

Shareholders gathered for an extraordinary meeting just days after Ghosn's latest arrest in Tokyo, expressing bafflement and concern about growing financial misconduct allegations.

Shareholders also approved the appointment of French partner Renault SA's chairman Jean-Dominique Senard to replace Ghosn.

The announcement came after Ghosn was reportedly fired as the chairman of both Nissan and Mitsubishi Motors following his arrest in December, after which he stepped down as the chairman and CEO of French carmaker Renault.

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According to BBC News, the Nissan shareholders also voted to get rid of Greg Kelly, US executive who served as Ghosn's right-hand man.

Carlos Ghosn has been rearrested late last week and his three charges at the time of the arrest are different from the first ones that were slapped to him previous year.

Saikawa started the meeting by apologizing for the inconvenience the scandal had caused, which was followed by a deep bow by him and a panel of Nissan executives and directors.

He also said Nissan may claim damages against its former chairman.

"It's obvious it's a plot", said Ghosn, adding: "Everything needs to be put on the table".

"I am very anxious about the performance and future of Nissan", said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

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Ghosn holds French, Brazilian and Lebanese citizenship. Ghosn says the compensation was never decided or paid, no investment losses were suffered by Nissan, and the payments were for legitimate services.

The wife of former Nissan boss Carlos Ghosn said she hastily left Japan and flew to Paris because she feared for her safety following her husband's latest arrest last week.

The date for his trial has not been set and is likely to be months away.

Mr Ghosn has denied any wrongdoing throughout, and has described the latest arrest as "outrageous and arbitrary". "I told him two things: That France respects completely the sovereignty and independence of the Japanese judiciary".

"This is not an issue we can fix overnight", Saikawa told shareholders. "He held his head high and he was calm", she said.

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