Friday , October 7 2022

Wall Street Journal: Carlos Ghosn's arrest without being charged still raises questions about the Nissan-Renault Merger Plan



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Carlos Ghosn, former president of Nissan, is in jail in Japan, despite being not yet prosecuted, a situation that raises questions about court proceedings, writes The Wall Street Journal and elicits the hypothesis of a merger blockade with Renault.


Image of Wall Street Journal: The arrest of Carlos Ghosn without being charged still raises questions about the Nissan-Renault Merger Plan

WSJ: Carlos Ghosn arrested questions about the Nissan-Renault merger plan

"A boss who at one point was considered a company savior arrested at the airport, held for several days without being prosecuted, prosecutors questioned in the absence of a lawyer and dismissed on the basis of press information No, it is capitalist Japan where Carlos Ghosn, the former director of Nissan Motors is holding a bizarre insight, but the episode should be worrying about something a person facing legal proceedings and corporate governance in Japan, "The Wall Street Journal said.

"Many years ago, Ghosn was famed in Tokyo to save Nissan from a bankruptcy. Now he is in police for an indefinite period unable to contact his family and unable to defend his reputation.) Japanese law allows suspicion to be held in 48 hours, and ten days and ten days later without charge, and the police can order the arrest again if there are suspicions of another crime, but this treatment is more appropriate for an interlocutor of the Yakuza mobster group than an international leader who lacks criminal action for fraud or abuse in the office. "It was definitely not how the Japanese prosecutors acted with suspects in Toshiba or Olympus, two companies affected by financial scandals, underlines WSJ editorialists.

The allegations in the press are also bizarre because Nissan should have been aware of these facts. According to the press, Carlos Ghosn has not considered $ 44 million in compensation in the last five years. But Nissan would have to report compensation in public financial items. Nissan claims that another governor, American Greg Kelly, has coordinated the compensation plan. And Greg Kelly is arrested for prevention, without being able to communicate in public. But if he and Carlos Ghosn could do these things without observing Nissan, the company would probably have much more internal control problems than unprotected compensation arrangements, notes WSJ.

Another allegation is that Ghosn used corporate funds to buy housing in Rio de Janeiro and Beirut. Nissan should know if it's corporate or personal housing. A source near the Ghosn family claims that the boss is not the owner of the houses.

"Perhaps there is evidence to support these suspicions, but the details of the allegation's context and context are skeptical." Last week, Nissan dismissed Carlos Ghosn as president, and Mitsubishi Motors handed it over to Carlos in the absence of Carlos Ghosn Nissan's current director, Hiroto Saikawa, ally with Carlos Ghosn, but now he describes Ghosn as powerful and explains that he received much credit for Nissan's reload in the 21st century. Saikawa criticizes Ghosn publicly in hard terms. If anyone wants a business president to be misunderstood by most Japanese audience to save Nissan, there is no better way than making charges that lead to arrest and silence. And the Japanese press had received signals in advance of arrest, as they were journalists, Du Haneda Airport, "WSJ claims.

"You do not have to be the author of conspiracy theories to look at these events and wonder if they are part of a wider effort to stop Carlos Ghost's plan for Nissan merger with Renault, the French car company that Ghosn remains director of Renault has intervened to save Nissan, and the two companies are still owned by a partnership formula, but Nissan has become more profitable than Renault, a company where the French government has a share of 15 percent. Hiroto Saikawa is disturbed. The French company's commitment and the arrest of Carlos Ghosn can permanently affect Partnership, "points out the daily editors of the Wall Street Journal, while observing that Japan had an organic corporate culture, but Carlos Ghosn was an exceptional foreign boss who managed to get permission.

"In connection with financial scandals, Prime Minister Shinzo Abe has adopted corporate governance reforms, but he has also promoted Japanese nationalism. Without greater transparency, without the disclosure of evidence supporting allegations and without being able to defend Carlos Ghosn and Greg Kelly, Nissan's ambition will be a black spot in the Japanese business environment, "concludes WSJ.


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