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Nissan board meets but doesn't pick a replacement for Ghosn

YOKOHAMA, Japan — Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a special committee of outsiders to strengthen governance at the company. A date for the selection of a chairman was not decided. "We plan to be cautious in this process, and I do not plan to rush this," Saikawa said. The recommendations for beefing up governance are due in March, and Saikawa said he was willing to wait until then to choose a chairman. The board meeting came amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand, and highlights shoddy governance at the manufacturer of the Leaf electric car. Related: Carlos Ghosn coup theory grows: Did Nissan set him up for a fall? Ghosn and another board member Greg Kelly were formally charged last week with falsifying financial reports in underreporting Ghosn's income by about 5 billion yen ($44 million) from 2011 to 2015. They were arrested Nov. 19 by Tokyo prosecutors and remain in detention. A source close to Ghosn's family says Ghosn is innocent, as the alleged income was never decided upon or paid. Aubrey Harwell, the U.S. lawyer for Kelly, an American, says he is innocent, and that Nissan insiders and outside experts had advised him that the financial reporting was proper. The chairman must be selected from among the board members. Three outside board members — race-car driver Keiko Ihara; Masakazu Toyoda, an academic; and Jean-Baptiste Duzan, formerly of Renault — are making that decision. The special committee for governance includes the three outside board members and four other outsiders, including former judge Seiichiro Nishioka. One candidate for chairman is Saikawa, who was hand-picked by Ghosn to succeed him as chief executive. He has denounced Ghosn and Kelly as the "masterminds" in a scheme to falsify income reports and abuse company money and assets. Renault has kept Ghosn as chief executive and chairman, saying its investigation has not found wrongdoing in the awarding of Ghosn's compensation. Saikawa called on directors at Renault to heed its reasons for sacking Ghosn, but Renault's interim chairman Philippe Lagayette said on Friday that its board had not considered a replacement.

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 Leaf EVs slip through French village to make a quiet point

Bjork's 1995 freak-out hit It's Oh So Quiet may have reflected the singer's oddball Icelandic sensibilities, but Nissan is making the concept of relative silence a French thing. The Japanese automaker recently promoted its all-electric Leaf by staging a mini-rally through what it called "one of the quietest villages in Europe." And with the exception of a couple damaged trash bins and a destroyed rear-view mirror from an old-school archway, the race kept the drivers wide awake but everyone in the Southern French village in Provence Alpes Cote d'Azur sleeping. Nissan sent four vehicles on a five-kilometer jaunt through the village in the wee morning hours. Screeching tires and a couple booms notwithstanding, the company said everyone in town stayed snoozing. There was a broader purpose to this exercise, of course, which Nissan blatantly admits was a stunt. Nissan was helping celebrate 19th Annual International Noise Awareness Day (INAD), which took place on Wednesday and highlighted the emotional and health issues as well as high blood pressure and insomnia caused by excessive exposure to noise. Check out Nissan's press release below, where you'll also find the video. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. NISSAN LEAF CELEBRATES INTERNATIONAL NOISE AWARENESS DAY WITH A NIGHTTIME "SILENT RIDE" ROLLE, Switzerland – To mark the 19th annual International Noise Awareness Day (INAD), Nissan has taken to the streets of one of Europe's quietest villages during the middle of the night with a silent "ride" of its 100 percent electric Nissan LEAF. The activity, complete with a start and finish line in Provence Alpes Cote d'Azur, was designed to demonstrate the noise reduction levels of the Zero Emissions car compared to traditional combustion engines. The World Health Organization (WHO) states at least 13.5 percent of Europeans are exposed to road traffic noise at levels exceeding 55 dB, which is considered detrimental to human health*. The medical effects of noise levels include insomnia (50dB), obesity (50dB), psychic disorders (60dB) and reduction in life expectancy (50dB)*. As a result, Nissan has filmed a 'silent ride' to help support INAD in raising awareness about noise pollution levels across Europe.