Nov 19, 2018

5. Nissan chairman arrested for alleged financial misconduct

Nissan chairman Carlos Ghosn

Nissan chairman Carlos Ghosn. Photo: Vincent Isore/IP3 via Getty Images

Nissan Chairman Carlos Ghosn has been arrested on allegations that he underreported his income to the Tokyo Stock Exchange "over many years" and utilized company assets for personal use, reports the AP.

The big picture: Nissan CEO Hiroto Saikawa said the board will meet Thursday to seek Ghosn's removal from the company. Ghosn, who is also chairman and CEO of the Renault-Nissan-Mitsubishi alliance and CEO of Renault, has long been an important figure in the global car industry. He's played a pivotal role in pushing both Nissan and Renault toward electric vehicles, helping Nissan become the world's largest EV manufacturer.

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