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Ghosn hid part of Nissan salary, fearing he'd be forced out of Renault, exec testifies

TOKYO — Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday. Hari Nada, a former Nissan vice president in charge of legal affairs, has been described as organizer of a putsch against Ghosn and is a key whistleblower in the case brought by Japanese prosecutors against the former Nissan and Renault boss, who was arrested in 2018. Nada was testifying at the trial of former Nissan executive Greg Kelly, who is charged with helping Ghosn hide 9.3 billion yen ($89 million) in compensation over eight years through deferred payments after Japan introduced new rules requiring executives to disclose payments above 1 billion yen. Kelly has pleaded not guilty. He has been on bail in Japan since his release from jail in 2018 and is facing trial without Ghosn because his co-accused fled to Lebanon in December 2019. Ghosn, who was one of the world's most prominent auto bosses as head of the Renault-Nissan-Mitsubishi alliance, has denied wrongdoing. He says he is the victim of a boardroom coup by former Nissan colleagues worried he would push through a merger between Nissan and Renault, its largest shareholder. Nada told the court that Ghosn had concealed his true compensation because he feared the repercussions in France. He said Kelly had given him this information. "He didn't want to be fired. If he paid himself what he wanted and that was disclosed, the French state would have felt obliged to fire him," said Nada, who agreed to cooperate with Japanese prosecutors in return for immunity from prosecution. France's economy ministry declined to comment. Nada was demoted following Ghosn's arrest. Ghosn, who is also charged with enriching himself through $5 million in payments to a Middle East car dealership, and for a breach of trust for temporarily transferring personal financial losses to his employer's books, also denies any wrongdoing. A former Nissan chief operating officer offered another perspective on Tuesday, outlining the pains company officials took to hide GhosnÂ’s pay, because they worried about his quitting for a rival. “Carlos Ghosn is a world-class business leader and CEO,” said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting GhosnÂ’s compensation.

Ghosn: Restoring Mitsubishi's reputation is biggest challenge

After news that Mitsubishi falsified its fuel economy data on every vehicle it has sold in Japan since 1991, and the tumble in the company's value that followed, the troubled carmaker has an unlikely savior. Nissan has confirmed it will purchase over one third of Mitsubishi's stock, or 34 percent. The stake is valued at $2.2 billion. Ghosn says making Mitsubishi a part of the Renault-Nissan alliance will save billions in development costs. But the merger certainly isn't without challenges. "The biggest challenge is to support Mitsubishi changing itself and growing and being profitable and restoring its reputation," said Ghosn. Nissan is a natural partner for Mitsubishi, and since the fuel economy scandal escalated from discrepancies in the data regarding Mitsubishi-manufactured, Nissan-badged Japan-market vehicles, it makes sense for the company to sweep in and save the day. Nissan itself is partially owned by Renault, and Nissan has a 15-percent stake in the French automaker. Mitsubishi's chairman, Osamu Masuko says that the merger was inevitable, that it "would have happened one day" anyway, according to the New York Times. Carlos Ghosn, chairman of both Nissan and Renault, is confident they will be able to turn Mitsubishi's fortunes around. "We have the track record to make it work", Ghosn said, referring to the Renault-funded rescue of Nissan in the early 2000s. Related Video:

2016 Nissan Maxima First Drive [w/video]

Nissan has called the fullsize Maxima sedan a four-door sports car since 1988, with the debut of the third-generation model. What little truth existed in that moniker has slowly ebbed away in the ensuing years, with recent iterations only incrementally more sporting than the rest of the big-car segment. That doesn't change for 2016, despite Nissan's continued use of the "4DSC" trademark. But while the new Maxima may be less four-door sports car, it's much more full-on luxury car. That fact is best reflected in the eighth-generation Maxima's handsome new cabin. Particularly on the SR and Platinum trims that we drove, the interior is easily the best in its class. We are impressed by the cabin's soft, handsomely stitched leather, genuine Italian-made Alcantara suede, matte wood, and "liquid" metal trim. The seat inserts on our tester features quilted stitching that looks far more suited to Nissan's premium Infiniti brand, while the threads found on the dash and doors look like they're really there to hold things together – a rarity nowadays. While we question the use of the 4DSC moniker, the layout of the cabin is in line with the Maxima's marketing pitch. The center stack is angled seven degrees towards the driver. Along with the high transmission tunnel, this contributes to the cockpit-like feel of the driver's seat. A fat-rimmed, flat-bottomed steering wheel – a first for Nissan – is amply padded, and on the sporty SR, can be had with contrasting Alcantara accents. The small diameter and SR-specific paddles extend the sports car promise. The sculpted, broad-shouldered exterior has the muscle of Nissan's real sports cars, the GT-R and 370Z, but it exceeds both of those in terms of outright attractiveness. Nissan's stylists call the design language "Energetic Flow," but we simply prefer to call the overall look, which borrows heavily from the Sports Sedan Concept, very pretty. If the 2016 Maxima fails to add zest to a staid segment from behind the wheel, at least it brings a serious dose of style to the large sedan clubhouse. Nissan claims class-leading specifics for the latest version of the VQ35 V6, reinforcing the 4DSC promise. There are 86 horsepower per liter, with 300 ponies in total from the 3.5-liter engine. Sixty-one percent of the parts in the latest-generation VQ35 V6 are new, contributing to the 10-hp bump over last year's sedan. The horsepower peaks high in the rev range, at 6,400 rpm, a mere 200 revs below redline.