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Ousted Renault CEO Bollore raised concerns over Ghosn investigation

PARIS — Renault's former chief executive Thierry Bollore, who was ousted in October, had sought to flag alleged conflicts of interest and governance problems at the company's Japanese alliance partner Nissan before his departure, Le Monde reported on Monday. Citing a letter from Oct. 7 addressed to Nissan's board, of which he was member, France's Le Monde newspaper said Bollore had raised questions over the firm's internal investigation surrounding former alliance boss Carlos Ghosn. Nissan and Renault were left reeling by Ghosn's arrest in Tokyo a year ago, on financial misconduct charges which he denies. They have since tried to reboot their strained partnership by revamping their management teams, including by purging them of Ghosn allies and removing people in top jobs at the time of the scandal. Bollore — who took a step up at the French carmaker when Ghosn left even though he was known for his close ties to the alliance founder — was eventually pushed out as Renault's CEO on Oct. 11, days after penning his letter. In comments sent to Reuters, Nissan spokeswoman Azusa Momose denied there were any irregularities in its internal investigation of Ghosn's affairs, and added that the company had reviewed its processes once again following Bollore's letter. "Nissan's independent directors confirmed that the investigation was properly conducted and could be relied on," Momose said. Nissan directors had discussed all the allegations raised by Bollore and the company "concluded that Bollore's concerns were not founded and were based for the most part on inaccurate information and speculation," she added. Bollore said in the letter that he was particularly concerned by the revelation that Nissan had a list of 80 managers implicated in financial dealings similar to the ones attributed to Ghosn. He also raised issues with the chain of command at Nissan, saying some key board members were sometimes kept in the dark on internal matters. Renault, which is still searching for a permanent replacement for Bollore as CEO, had no immediate comment. As well as changing its CEO, Nissan recently demoted senior vice president Hari Nada — a key whistleblower against Ghosn and whose role was also questioned in Bollore's letter — although its internal investigation had found no evidence against the executive. Related Video:

Nissan recalls 320K Versas in North America for faulty springs

Following an investigation by the National Highway Traffic Safety Administration starting in May, Nissan is now recalling 319,507 examples of the 2007-2012 Versa in North America. Corrosion from road salt can potentially cause the cars' front suspension coil springs to snap. Specifically, the campaign covers 218,019 Versas in cold-weather US states: the District of Columbia, Connecticut, Delaware, Iowa, Illinois, Indiana, Kentucky, Massachusetts, Maine, Maryland, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, and Wisconsin. In addition, there are 101,488 cars affected under this campaign in Canada, according to Nissan spokesperson Steve Yaeger to Autoblog. Nissan reports that a manufacturing issue by the supplier results in an "insufficient anti-corrosion coating" applied to the coil springs. Given enough time and exposure, this can lead to the part's fracturing. According to Yaeger, there are "no accidents or injuries related to this issue reported to Nissan." Owners of these Versas will get both front coil springs replaced, and Nissan will begin notifying them in November. It seems like perfect timing to avoid another winter of salt hitting them. Related Video: RECALL Subject : Front Coil Springs may Corrode , 1 INVESTIGATION(S) Report Receipt Date: SEP 14, 2015 NHTSA Campaign Number: 15V573000 Component(s): SUSPENSION Potential Number of Units Affected: 218,019 All Products Associated with this Recall Vehicle Make Model Model Year(s) NISSAN VERSA 2007-2012 Details Manufacturer: Nissan North America, Inc. SUMMARY: Nissan (Nissan North America, Inc.) is recalling certain model year 2007-2012 Nissan Versa vehicles manufactured May 8, 2006, to November 12, 2012, that were sold or ever registered in the District of Columbia, Connecticut, Delaware, Iowa, Illinois, Indiana, Kentucky, Massachusetts, Maine, Maryland, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia and Wisconsin. Road salt may corrode the front coil springs, possibly resulting in the coil springs fracturing. CONSEQUENCE: If a front coil spring fractures, it may contact the tire, possibly puncturing it, increasing the risk of a crash. REMEDY: Nissan will notify owners, and dealers will replace both front coil springs, free of charge. The recall is expected to begin by mid-November 2015.

Japan prosecutors seek 2 years in prison for ex-Nissan exec Greg Kelly

TOKYO — Japanese prosecutors demanded two years in prison for former Nissan executive Greg Kelly and accused him of joining a “conspiracy” to pay his former boss Carlos Ghosn illicitly in closing arguments Wednesday in a yearlong trial. “That unpaid compensation existed is clear,” prosecutor Yukio Kawasaki told the Tokyo District Court, reading briskly from a thick document. Kelly, a 30-year veteran at the Japanese automaker, was living in the U.S. when he was arrested in November 2018 upon returning to Japan to attend a meeting. The first American to be appointed to NissanÂ’s board, Kelly says he is innocent. He sat calmly in the courtroom, wearing his usual red tie and dark suit, alongside defense lawyers. Everyone in the courthouse was wearing a mask because of the pandemic. Kelly told The Associated Press in an interview last month he did not know all the details of GhosnÂ’s pay. He was determined to retain Ghosn, Nissan's former chairman, because of his extraordinary management skills and wanted to pay him in a legal way, he said. Ghosn was arrested at the same time as Kelly and also maintains he is innocent. He skipped bail in late 2019 and fled to Lebanon, the country of his ancestry. It has no extradition treaty with Japan. The charges center around a pay cut of about 1 billion yen ($10 million) a year that Ghosn voluntarily started taking from 2010, halving his pay after disclosure of high executive pay became mandatory in Japan. Nissan Motor officials considered various ways to make up for the money Ghosn gave up, such as paying him consulting fees after retirement. They also mulled other methods such as payments through subsidiaries and stock options. Nothing had been paid at the time of the arrests. The contention is over whether that money should have been reported as compensation as a de facto promised sum under a binding contract, or didnÂ’t need to be disclosed until it was finalized. Ghosn has said a group at Nissan engineered his arrest because they feared that French automaker Renault, which owns 43% of Nissan, would gain more control over the company. Other Nissan officials made similar comments during KellyÂ’s trial. Renault sent Ghosn to Nissan in 1999 to lead its rescue from the brink of bankruptcy. He successfully steered the maker of the Leaf electric car and Infiniti luxury models for nearly two decades.