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Ex-Nissan exec Greg Kelly's suspended sentence lets him go home

TOKYO — A Tokyo court gave Greg Kelly, a former American executive at Nissan Motor charged with underreporting his boss Carlos GhosnÂ’s pay, a suspended sentence, but cleared him of most of the charges. The verdict announced Thursday of a 6-month sentence suspended for three years will allow Kelly to return to the U.S. during an appeal. Kelly's defense lawyers said they will appeal. It was unclear if prosecutors would also do so. Kelly, who appeared calm during the court session, said afterward that he was stunned by the verdict. “I have always acted in the best interests of Nissan, and I have never been involved in an unlawful act,” said Kelly, who is planning to head back to Tennessee. The court acquitted Kelly on some counts but found him guilty of charges for just one of the eight years for which the compensation allegedly was under-reported. The defense team said that was unacceptable. “Kelly is completely innocent. We cannot accept the erroneous ruling that found him guilty for that final year,” the defense, headed by Yoichi Kitamura, said in a statement. Kelly was arrested in November 2018 at the same time as Ghosn, a former Nissan chairman and head of the Renault-Nissan-Mitsubishi alliance. Both insist they are innocent and that the money in question was never paid or decided on. The trial at Tokyo District Court began in September 2020, with Ghosn absent after he jumped bail in late 2019, hiding in a box for music instruments on a private jet. He fled to Lebanon, which has no extradition treaty with Japan, and has been writing books and making movies about his experiences. During ThursdayÂ’s session, Chief judge Kenji Shimotsu repeatedly slammed Ghosn, telling the court Ghosn showed greed and malice in a “dictatorial rule” at Nissan. Nissan's faulty governance misled investors and had a damaging impact, he said. Shimotsu said Ghosn made an arrangement for his compensation that was “conducted solely out of his personal greed.” “There is absolutely no room for extenuating circumstances in his motive,” he said. Ghosn called the judgement a “save-face verdict” for the prosecutors and other Nissan executives that he accuses of colluding against him, Kelly, Renault and all shareholders. “I am relieved for Greg and his family,” Ghosn said in a Zoom call with a small group of reporters.

Nissan previews new Sway hatchback concept bound for Geneva

Nissan has announced a new concept it's bringing to the fast-approaching Geneva Motor Show with the release of the teaser image above. Bearing the name Sway, the concept previews the Japanese automaker's vision for a new small hatchback for the European market – ostensibly to replace the current model known as the Micra in Europe and Canada and as the March in other parts of the world. There's little to go on from the teaser, but it will clearly adopt the company's latest grille shape, flanked by angled LED headlights and with the requisite spindly door mirrors (or cameras, as the case may be) and oversized wheels packed into flared arches. Beyond that, Nissan hasn't released much in the way of details, except to say that it would apply the same "innovative design" and "radical thinking" that gave birth to the Qashqai and Juke to the small hatchback segment. THIS SWAY FOR EXCITEMENT - NISSAN AT THE 2015 GENEVA MOTOR SHOW Innovative design and product planning gave birth to Nissan Qashqai and Juke, two of the biggest automotive success stories of recent years. What would happen if the company applied the same radical thinking and quality standards to one of the most important sectors in Europe: the small hatchback? To be unveiled at the 2015 Geneva Motor Show, Sway is a glimpse at how a future generation of small Nissan models could look if the company's striking new design language was applied to a European hatchback. The car will be revealed during Nissan's press conference on March 3rd at 11.30am. About Nissan in Europe Nissan has one of the most comprehensive European presences of any overseas manufacturer, employing more than 17,600 staff across locally-based design, research & development, manufacturing, logistics and sales & marketing operations. Last financial year Nissan plants in the UK, Spain and Russia produced more than 675,000 vehicles including award-winning crossovers, small cars, SUVs, commercial vehicles and electric vehicles, including the Nissan LEAF, the world's most popular electric vehicle with 96% of customers willing to recommend the car to friends. Nissan now offers a strong line-up of 23 diverse and innovative models in Europe under the Nissan and Datsun brands.

Nissan's Ghosn highest paid exec in Japan again, at $10M per year

Nissan CEO Carlos Ghosn is on track to be the highest-paid executive in Japan for the fourth time in five years. Ghosn's salary and bonuses last year rang the register to the tune of $9.8 million (995 million yen), and when stock dividends are added to the equation, the exec's total pay crested a billion yen. That represents a 0.7-percent increase over his pay from the previous year. Ghosn earned an additional $3.1 million as CEO of Renault.
According to Bloomberg, Ghosn's compensation was announced at a shareholder's meeting in Japan, prompting an explanation from the CEO. "I understand the sensitivity of the issue," Ghosn said. "Being in Japan should not be a handicap to attract talent. We need the best minds, we need the best talents."
Few would argue with that assessment, we'd guess, but it doesn't answer the question of whether Ghosn is the most talented CEO in Japan. Akio Toyoda, head of Toyota in Japan, earned 230 yen (though, as a large shareholder in Toyota, Toyoda's dividend payments bring him closer to Ghosn) in compensation while steering his automaker to a profit that was five times higher than Nissan's. Honda President Takanobu Ito was paid the comparatively small sum of 150 million yen last year.