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Carlos Ghosn, the cost cutter who cost a lot in compensation

PARIS — In his 40 years in the auto industry, the praise Carlos Ghosn has won for turning around businesses has regularly been matched by criticism over the amount he has been paid to do it. In the latest furore over his finances, Japan's Nissan Motor Co said on Monday it planned to oust Ghosn as chairman after alleging he had made personal use of company assets, among other acts of suspected misconduct. The scandal comes just five months after the 64-year-old head of the Renault-Nissan alliance narrowly won a shareholder vote at Renault over his 7.4 million euro ($8.5 million) pay package for 2017, after losing a 2016 vote. Brazilian-born, of Lebanese descent and a French citizen, Ghosn began his career in 1978 at tire maker Michelin, before moving to Renault in 1996, where he oversaw a turnaround at the French automaker that won him the nickname "Le Cost Killer." After Renault sealed an alliance with Nissan in 1999, Ghosn used similar methods to revive the ailing Japanese brand, leading to "business superstar" status in Japan, blanket media coverage and even a manga comic book on his life. As auto markets in western Europe and Japan struggled, Ghosn championed a cheap car for the masses in emerging markets and embraced the electric vehicle before many others. He also never made it a secret that he believed there were too many carmakers in the world and consolidation would continue — in 2016 he added Japan's Mitsubishi Motors to the alliance. But in recent months, attention has increasingly turned to how the complex web of cross-shareholdings between the alliance partners might be simplified to ensure it can thrive following the eventual departure of its main architect. In March, sources close to the matter told Reuters the alliance partners were discussing plans for a closer tie-up in which Nissan would acquire the bulk of the French state's 15 percent stake in Renault. With Japan's Yomiuri newspaper reporting on Monday that Ghosn had been arrested by Tokyo prosecutors on suspicion of under-reporting his salary, the alliance's plans for the future just got more pressing.Writing by Mark PotterRelated Video: Earnings/Financials Plants/Manufacturing Nissan Renault

Renault to Nissan: Stop trying to contact our board members

TOKYO/PARIS — Renault told alliance partner Nissan to stop contacting the French company's directors ahead of a Thursday board meeting as the Japanese automaker tried to share evidence of wrongdoing by its ousted chairman, Carlos Ghosn, two sources said. Ever since Ghosn's Nov. 19 arrest in Japan, Renault and the French government, the automaker's biggest shareholder, have demanded to see the findings of a Nissan internal investigation that include allegations of financial misconduct by the 64-year-old executive. Ghosn was charged on Monday in Japan for failing to declare deferred income he had agreed to receive for the five years ending March 2015. While Nissan fired him as chairman days after his arrest, he remains chairman and CEO of its French partner. Renault's board meets on Dec. 13, and the findings of Nissan's investigation will be shared at the meeting where Ghosn's future could be also debated, one of the sources with knowledge of the matter said. The French firm told Nissan not to contact its directors ahead of the meeting, because such contact was outside the agreed channels for communication of the sensitive findings, the source said. Nissan offered last week to brief Renault's board about findings on what it considers proof of wrongdoing by Ghosn, said a second source who has knowledge of the matter but declined to be identified as it was confidential. But Renault advised Nissan to brief its lawyers instead, which led to a meeting between the Japanese firm's officials and Renault's legal teams early this week in Paris, the person said. The Japanese automaker later invited Thierry Bollore, who was named Renault's deputy CEO with the same powers as Ghosn a day after his arrest, as well as board members, to examine the contents of the findings, said the source. Bollore, though, told Nissan on Tuesday to "refrain from contacting the board," the source said. The exchange between Renault and Nissan is another example of the testy relationship between the two automakers, despite assurances by executives on both sides to preserve the alliance. The alliance, of which Ghosn has been the driving force, is widely seen as vital for the members' long-term survival. Board members invited to see the evidence included Martin Vial, who heads the French state shareholdings agency, interim Chairman Philippe Lagayette and independent director Patrick Thomas, the second source said. A Renault spokesperson declined to comment.

Leopard walks in, shuts down a Mercedes-Benz plant

In recent months the auto industry has seen plant closures due to a host of reasons — parts shortages, recalls, natural disasters, and even a once-in-a-lifetime pandemic. Now it can add to that list the threat of an invading leopard. A Mercedes-Benz factory in Pune, India, was forced to halt production for a few hours when a wayward jungle cat wandered into the facility, When the 3-year-old male leopard was spotted inside the manufacturing unit of the factory, it caused a panic among workers, according to a release by rescue organization Wildlife SOS discovered by The Drive. The site was shut down for about six hours as a Wildlife SOS rapid response team from the Manikdoh Leopard Rescue Centre and the State Forest Department safely removed the curious cat. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The team's veterinary officers Dr. Nikhil Bangar and Dr. Shubham Patil carried out the rescue operation, tranquilizing the feline and loading it into a wildlife carrier. The rescue took about four hours, and Wildlife SOS reports that neither the creature nor any workers sustained injuries. The leopard was released back into the wild.  No one is quite sure how it got onto the factory grounds, but Wildlife SOS says that the forests in the surrounding region have one of the highest densities of leopards in the world. It's also suffering from rapid deforestation. That encroachment by humans has led to a decrease in the leopard's natural prey as well, so wildlife experts think it may have been looking for food.  The Mercedes plant builds the Maybach S 560, S-Class, E-Class Long Wheelbase, C-Class, CLA, GLA, GLE and GLS for the Indian market.  We have a different theory. We believe that the cat was seeking to set the record straight with Mercedes. When the S 65 AMG debuted, Mercedes claimed it featured the world's first Road Surface Scan technology to detect pavement undulations and adjust suspension damping accordingly. The only problem with that claim: Nissan had the technology some 30 years earlier in several mid-80s models, including the Maxima and Japan's version of the Infiniti M30, which was called — you guessed it — the Leopard.