Nissan Renault chairman Ghosn arrested in Japan

Renault and Nissan chairman Carlos Ghosn has been arrested in Japan, facing allegations of financial impropriety.

Nissan Renault chairman Ghosn arrested in Japan
Listen to this article

Ghosn, who leads the alliance of Nissan, Renault and Mitsubishi and was a key supporter of the French manufacturer's Formula 1 programme, has been accused of under reporting his income.

The 64-year-old Ghosn has long been regarded as one of the most powerful executives in the industry, known for his ability to cut costs and turn around struggling companies.

He is just one step removed from the F1 team, as Renault Sport president Jerome Stoll reports directly to him.

In a press conference today, Nissan CEO Hiroto Saikawa said that Ghosn is expected to be sacked later this week.

"I will call a board meeting to make a proposal to remove him from the position of chairmanship and approve it," Saikawa was reported as saying by AFP.

"The partnership among the three entities will not be affected by this event, rather we will closely work together with all the partners to contain any possible confusion."

He added: "Looking back, the concentration of power was something we need to deeply reflect on."

The news has even attracted comment from French president Emmanuel Macron, who noted that the French state, which owns a 15% stake in Renault, "will be extremely vigilant as to the stability of the alliance and the group".

While Ghosn's impending departure is unlikely to have an impact on Renault's F1 plans in the short term, he had long been a key supporter within the group, and had personally approved big decisions such as the return to works ownership of the Enstone team.

shares
comments
Leclerc says Sauber progress not down to upgrades
Previous article

Leclerc says Sauber progress not down to upgrades

Next article

Ferrari must make sure it's "ready" to handle Leclerc

Ferrari must make sure it's "ready" to handle Leclerc
Why Sainz is key to Ferrari achieving its chairman's F1 goals Prime

Why Sainz is key to Ferrari achieving its chairman's F1 goals

Although Ferrari's chances of title glory in 2022 have evaporated, chairman John Elkann expects the team to have chalked up both championships by 2026. Both require drivers to play the team game and, having now become more comfortable with the F1-75, Carlos Sainz may be Ferrari's key to title glory

How its faltering first turbo car advanced a Williams-Honda glory era Prime

How its faltering first turbo car advanced a Williams-Honda glory era

Stuart Codling charts the development of the Williams FW09, the ugly duckling that heralded the start of the title-winning Williams-Honda partnership

Formula 1
Sep 25, 2022
The Moss-Ferrari farce that current F1 drivers are thankfully spared Prime

The Moss-Ferrari farce that current F1 drivers are thankfully spared

Recent moves within the driver market have reminded Maurce Hamilton of a time when contracts weren’t worth the paper they weren’t written on…

Formula 1
Sep 24, 2022
The seven factors powering Verstappen's 2022 F1 domination Prime

The seven factors powering Verstappen's 2022 F1 domination

After a tooth and nail and, at times, toxic Formula 1 world championship scrap last year, Max Verstappen's march to a second consecutive title has been the exact opposite. But has he really changed in 2022? Here's a dive into what factors have played a crucial role, both inside the Verstappen camp and elsewhere, in the Dutch driver's domination.

Formula 1
Sep 23, 2022
The time lag of ideas that offers intrigue over F1's future fight Prime

The time lag of ideas that offers intrigue over F1's future fight

The pecking order in 2022's Formula 1 season may look pretty static as the season draws to a close, but the unique nature of the cost cap means that preparation for next season takes precedence. New developments are being pushed back to 2023, which could mask the technical development war ongoing...

Formula 1
Sep 22, 2022
The surprise biggest indicator of Ferrari's 2022 F1 points downfall Prime

The surprise biggest indicator of Ferrari's 2022 F1 points downfall

Looking back to the early races of 2022 and Ferrari’s challenge to Red Bull and Max Verstappen was going better than many expected. But it has lost so much ground a surprise rival can even pip Charles Leclerc to runner-up in the standings if given the chance

Formula 1
Sep 20, 2022
The F1 podium-finisher that gave Jordan stability in a year of chaos Prime

The F1 podium-finisher that gave Jordan stability in a year of chaos

The Hart-powered Jordan 194 gave the team hope that the good times were just around the corner. Its 1994 steed wasn’t the start of a move up F1’s pecking order - even if the car did earn the Silverstone team a first pole position. But, as STUART CODLING explains, it did provide a platform for Jordan to become a manufacturer-supported squad.

Formula 1
Sep 18, 2022
BRM V16: How F1's greatest sound has returned to the track Prime

BRM V16: How F1's greatest sound has returned to the track

The first of three new BRM V16s is bringing the greatest-sounding engine to a new audience – and back to the race track - at the Goodwood Revival this weekend. Here is the story of the ambitious 1950 Formula 1 project's resurrection for historic competition

Formula 1
Sep 17, 2022