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Court rejects Carlos Ghosn's request to attend Nissan board meeting

TOKYO — A Japanese court has rejected a request by former Nissan chairman Carlos Ghosn, released on bail last week, to attend the Japanese automaker's board meeting on Tuesday. Nissan dismissed Ghosn as chairman after his Nov. 19 arrest, but he remains on the board. The Tokyo District Court said it rejected Ghosn's request on Monday but did not elaborate on the reasons. It had been unclear whether Ghosn could attend the board meeting. The court's approval was needed based on restrictions imposed for his release on bail. The restrictions say he cannot tamper with evidence, and attending the board meeting could be seen as putting pressure on Nissan employees. Prosecutors had been expected to argue against his attendance. They were not available for immediate comment. Ghosn has been charged with falsifying financial reports in underreporting his compensation and breach of trust in making payments to a Saudi businessman and having Nissan shoulder investment losses. He insists he is innocent, saying the compensation was never decided or paid, the payments were for legitimate services and Nissan never suffered the losses. Since his release on March 6 from Tokyo Detention Center on 1 billion yen ($9 million) bail, he has been spotted taking walks in Tokyo with his family, but he has not made any comments. His attempt to exercise what his lawyer, Junichiro Hironaka, called his "duty" by attending the board meeting signals one way he may be fighting back. Hironaka has said Ghosn will speak to reporters soon. A date for a news conference has not been announced. Nissan said Monday that Renault Chairman Jean-Dominique Senard, Renault Chief Executive Thierry Bollore, Nissan Motor Co. CEO Hiroto Saikawa, and Osamu Masuko, the chairman and CEO of Mitsubishi Motors Corp., will hold a joint news conference Tuesday after the board meeting. Nissan appears determined to highlight new leadership without Ghosn. It is part of an alliance with Renault SA of France, and more recently with Japan's Mitsubishi Motors, that was largely cobbled together by Ghosn, who led Nissan for two decades. Nissan, which makes the March subcompact, Leaf electric car and Infiniti luxury models, has denounced Ghosn for alleged misconduct. A decision at a shareholders' meeting is needed to remove Ghosn from the board. A shareholders' meeting is scheduled for next month.

Nissan to take over for Renault in Formula E

Formula E has generated a lot of news lately, even in the off-season, as major automakers continue to either join the series or express interest in participating. The inclusion of a number of European rivals makes the series particularly interesting. One thing missing from the lineup is a Japanese automaker. That will change, though, as Motorsport reports that Nissan will be taking over its Alliance partner Renault's spot on the starting grid. It's not confirmed when the switch will happen, but with the Renault e.dams Z.E. 17 (seen in testing above) already having been unveiled for next season, it's likely the switch will come in for the 2018/19 season when the series moves away from the practice of swapping cars mid-race. Renault has been a successful part of Formula E from the very beginning, providing (with partner Spark) the cars each team used in the first season, and scoring the series' first Team Championship in 2015, and then again in 2016 and 2017. Nissan, though, has the globally popular Leaf EV, and has been eyeing an entry into Formula E for some time now. Joining the series will not only boost the visibility of Nissan's electrification strategy, it will do the same for its Nismo arm as well (and, as we've already learned, there could be a Leaf Nismo offered in the future). The change would also free up resources for Renault to focus on its F1 efforts. As Motorsport also reports, Formula E CEO Alejandro Agag has said of the Japanese brands Nissan, Honda and Toyota, that "one of those three, maybe two, will end up" in the electric racing series, without elaborating further. Nissan isn't expected to confirm its Formula E entry soon, but it could happen at the Geneva Motor Show next year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: MotorsportImage Credit: Formula E Green Motorsports Nissan Renault Green Culture Electric Racing Vehicles Formula E nismo fia formula e championship

Ghosn: Nissan-Renault strife and his arrest can be traced back to Macron

PARIS — Ex-Nissan boss Carlos Ghosn said on Wednesday that a surprise corporate move, orchestrated five years ago by French President Emmanuel Macron, who was then economy minister, soured relations between Renault and Nissan and contributed to his ouster. Ghosn, the former head of the car alliance, said Nissan executives and Japanese officials were shocked by a 2015 decision by the French government to increase its voting rights at Renault. "This left a big bitterness. Not only with the management of Nissan, but also the government of Japan," Ghosn told reporters, although he did not name Macron. "And this is where the problem started." Macron's office did not respond to a request for comment. In April 2015, as a 37-year-old minister with then-unknown presidential ambitions, Macron ordered a surprise increase in the state's stake in Renault designed to secure double voting rights. The overnight move gave the French state a blocking minority in Renault, which in turn controlled Nissan via its 43.4 percent stake in the Japanese firm. According to French and Japanese sources, that rattled the Japanese side of the Renault-Nissan alliance, which feared a national champion was falling under the control of the French government. In the ensuing eight-month boardroom fight between Macron's ministry and Hiroto Saikawa — Nissan's second-in-command at the time — Ghosn sees the seeds of what he says grew into a conspiracy to have him arrested and oust him from control of Nissan. The 65-year-old fled Japan last month as he awaited trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. He is now in Lebanon, where he spoke to international media on Wednesday. "There started to be some kind of defiance from our Japanese colleagues, not only about the alliance but also about me," Ghosn told reporters. "And some of our Japanese friends thought: The only way to get rid of the influence of Renault on Nissan is to get rid of him," he added. "Unfortunately, they were right." Following Ghosn's arrest in November 2018, Nissan executives said that said governance had been eroded by RenaultÂ’s control.