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Ghosn hid part of Nissan salary, fearing he'd be forced out of Renault, exec testifies

TOKYO — Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday. Hari Nada, a former Nissan vice president in charge of legal affairs, has been described as organizer of a putsch against Ghosn and is a key whistleblower in the case brought by Japanese prosecutors against the former Nissan and Renault boss, who was arrested in 2018. Nada was testifying at the trial of former Nissan executive Greg Kelly, who is charged with helping Ghosn hide 9.3 billion yen ($89 million) in compensation over eight years through deferred payments after Japan introduced new rules requiring executives to disclose payments above 1 billion yen. Kelly has pleaded not guilty. He has been on bail in Japan since his release from jail in 2018 and is facing trial without Ghosn because his co-accused fled to Lebanon in December 2019. Ghosn, who was one of the world's most prominent auto bosses as head of the Renault-Nissan-Mitsubishi alliance, has denied wrongdoing. He says he is the victim of a boardroom coup by former Nissan colleagues worried he would push through a merger between Nissan and Renault, its largest shareholder. Nada told the court that Ghosn had concealed his true compensation because he feared the repercussions in France. He said Kelly had given him this information. "He didn't want to be fired. If he paid himself what he wanted and that was disclosed, the French state would have felt obliged to fire him," said Nada, who agreed to cooperate with Japanese prosecutors in return for immunity from prosecution. France's economy ministry declined to comment. Nada was demoted following Ghosn's arrest. Ghosn, who is also charged with enriching himself through $5 million in payments to a Middle East car dealership, and for a breach of trust for temporarily transferring personal financial losses to his employer's books, also denies any wrongdoing. A former Nissan chief operating officer offered another perspective on Tuesday, outlining the pains company officials took to hide GhosnÂ’s pay, because they worried about his quitting for a rival. “Carlos Ghosn is a world-class business leader and CEO,” said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting GhosnÂ’s compensation.

Nissan puts Le Mans prototype program under review

Nissan had a challenging time developing its GT-R LM Nismo, then it faced enormous challenges at Le Mans, the race it designed the car for, and now the race outfit is dealing with challenges in the boardroom. While the outfit gets ready for a test at the Circuit of the Americas, Sportscar365 reports that Nissan executives in Japan are deciding how to proceed with their LMP1 program. The meetings were presaged last month by CEO Carlos Ghosn, who said at last month's Formula E race in London that "we must assess the strategy. We wanted to be different and competitive, we have only been different." Both Ghosn's wording and that of the Sportscar365 piece make it seem that company bosses are wrangling over continuing with "the current specification" of the GT-R LM Nismo, not the entire two-year race program. If that's the case and the decision goes against, we could see a more traditional Nissan racer in La Sarthe next year. While it's easy for us to say this, we think that would be a shame. Le Mans is hard enough to win with a massive budget and a traditional race car - just ask Peugeot and Toyota, and remember that Porsche didn't go home covered in laurels its first year back, either. Given just how different Nissan's car is, a year in the deep weeds at the world's biggest and least forgiving endurance race against veteran competition isn't an outrageous outcome. And remember, persistent issues prevented the team from using the car's hybrid system, robbing the GT-R LM Nismo of half its horsepower and rear-wheel drive. That was never going to go well. Can the engineers get the GT-R LM Nismo to work properly? We don't know. But we'd like to see them get a proper chance to get it right. Related Video:

Nissan raises base GT-R price to $101,770 for 2014

Nissan has announced a few pricing tweaks for the 2015 GT-R, one of which pushes the most basic variant past $100,000 for the first time. The 2014 cost of entry was $99,590, while the 2015 GT-R starts at $101,770.
The GT-R Black Edition, meanwhile, will demand $111,510, up from 2014's $109,300. The GT-R Track Edition retains the $115,710 asking price of the 2014 car. The price increases on the base and Black Edition come with some additional goodies that should soften the blow to pocketbooks, including a retuned suspension that promises a "more sophisticated ride," while LED headlights come standard. Bose Active Noise Cancellation has also been added to the 2015 GT-R, as has a new interior color option on the base model. For a full rundown of new goodies on the GT-R, check out our original post on the 2015 vintage.
Interestingly, the destination charge for the 2015 GT-R has climbed dramatically, from 2014's $1,000 to $1,595 for the latest car. We've reached out to Nissan to see why there was such a big increase, and will update as soon as we have an update.