Ex-Nissan boss barred from board meeting

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March 12, 2019

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Ex-Nissan boss barred from board meeting

Source: AFP | 00:13 UTC+8 March 12, 2019 |

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A JAPANESE court yesterday barred Carlos Ghosn from attending a Nissan board meeting, as the bailed former chairman prepares his defense against charges of financial misconduct.

Nissan removed Ghosn as chief shortly after his shock arrest in November, but he cannot be officially removed from his seat on the board without an extraordinary shareholders’ meeting — expected to take place on April 8.

“Mr Ghosn requested to attend the board meeting but the court did not approve his attendance,” the Tokyo District Court said in a statement.

The Japanese carmaker is holding a board meeting today in Yokohama, near Tokyo.

And Ghosn’s lawyer Junichiro Hironaka said earlier yesterday that his client “had a duty” to attend the board meeting and wanted to do so — if the court gave the green light.

In later comments to reporters, Hironaka said Nissan had submitted a written opinion to prosecutors requesting Ghosn be prevented from attending the board meeting.

The lawyer added that he was considering an appeal against the court’s decision.

“We didn’t expect (Nissan) would oppose it so strongly,” Hironaka said.

Restrictions

Ghosn was released last Wednesday on bail of nearly US$9 million.

Under the terms of his release, he is forbidden from contacting people who could be involved in his case, including Nissan executives likely to attend board meetings, such as CEO Hiroto Saikawa.

Other conditions of Ghosn’s bail include living in a residence monitored from outside by camera. He can only access a non-Internet-connected computer at his lawyer’s office.

The former high-flying auto tycoon spent more than 100 days in a Tokyo detention center.

He faces three charges of financial misconduct over allegations he under-reported his compensation and sought to transfer personal losses to Nissan’s books.

Hironaka said he would meet his client today to discuss whether Ghosn should hold a much-anticipated news conference.

“(He) wants to hold it at the best time and when he is in the best health,” Hironaka said.

At the height of his powers, Ghosn ran an alliance of Nissan, Renault and Mitsubishi Motors that outsold all rivals.

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Ex-Nissan boss barred from board meeting

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