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$NSANY ---> Nissan Shareholders Unload on Ghosn

Nissan shareholders voted to remove disgraced former chairman Carlos Ghosn from the company’s board at a meeting best described as “extraordinary” and “raucous.” Okay...but did they take away his limo privileges?
Ghosn was considered Nissan’s savior when he helped lift the company from a brutal slump two decades ago. Now, Ghosn (who denies any wrongdoing) is in a Tokyo jail facing four charges including underreporting compensation and “aggravated breach of trust.”
  • Ghosn was released on bail in early March…
  • But prosecutors re-arrested him last week on suspicion he used a Nissan subsidiary to boost his own net worth by $5 million.
Yesterday’s meeting was the first opportunity for the 4,119 shareholders in attendance to vent their concerns since the Ghosn drama began in November—and vent they did. When was the last time you got called an “outrageous monster”? (Being hangry doesn’t count.)
Looking ahead: Nissan execs promised shareholders they’re focused on preventing a Ghosn 2.0 from happening. In the meantime, Ghosn will be replaced on the board with Renault chairman Jean-Dominique Senard.

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