Nissan, Renault, Mitsubishi Motors Chairman Carlos Ghosn arrested in Tokyo

Carlos Ghosn - hands free nissanCarlos Ghosn, The Lebanese-French-Brazilian businessman, who has served as the chairman and CEO of France-based Renault, chairman and CEO of Japan-based Nissan, and chairman of Mitsubishi Motors   was arrested  in Tokyo upon arrival at the airport on November and  is expected to be fired    as Nissan  Chairman , reportedly over financial misconduct .

He was one of the most famous executives in the world

Fortune awarded   him Asia Businessman of the Year in 2002.

In 2003 Fortune identified him as one of the 10 most powerful people in business outside the U.S. and its Asian edition voted him Man of the Year.

The  Financial Times and Pricewaterhouse Coopers named him  in joint survey the fourth most respected business leader in 2003, and the third most respected business leader in 2004 and in 2005.

He quickly achieved celebrity status in Japan and in the business world

Ghosn has been asked to run at least two other automakers, General Motors and Ford.

Nissan will hold a press conference tonight Japan time at its Yokohama headquarters, amid Japanese media reports that prosecutors plan to arrest Chairman Carlos Ghosn  on suspicion of breaching financial trading law.

Here’s some of what we know so far:

  • Initially, Japan’s Asahi newspaper reported that Nissan Motor Co. Chairman Carlos Ghosn was poised to be arrested in Tokyo on a suspected breach of financial trading law
  • This was followed by an announcement by Nissan that the company would meet the press in Japan today — the timing to be at 9pm Japan time (12pm London) or later, according to NHK
  • Now, NHK, Japan’s national broadcaster reports that Nissan is to propose dismissing Ghosn at a board meeting
  • Renault  stock Falls as Much as 11.6%, to Lowest Since Jan. 2015
More headlines  were reported today:
Nissan says:
  • Saikawa to Propose Removing Ghosn as Chairman
  • Also Confirmed Director Greg Kelly Was Deeply Involved
  • Ghosn Used Company for Personal Reasons
  • Ghosn’s Income Under-Reported for Several Years
  • Investigated Ghosn and Kelly for Serious Breaches
  • Have Internally Investigated Impropriety by Ghosn, Kelly
  • Nissan to Also Propose Dismissing Kelly at Board Meeting: Kyodo

The Lebanese connection

Ghosn’s grandfather Bichara Ghosn emigrated from Lebanon to Brazil at the age of 13, eventually settling in remote Guaporé, Rondônia, near the border between Brazil and Bolivia. Bichara Ghosn was an entrepreneur and eventually headed several companies, in fields including the rubber trade, the sale and purchase of agricultural products, and aviation. His son Jorge Ghosn married a Nigerian-born woman whose family also came from Lebanon, and they settled in Porto Velho, the state capital of Rondônia.

Carlos Ghosn was born on March 9, 1954, in Porto Velho  and in 1960, when Ghosn was six years old, he and his mother and sister moved to Beirut, Lebanon, where his grandmother lived.

Ghosn completed his secondary school studies in Lebanon, at the Jesuit school Collège Notre-Dame de Jamhour.

The French connection

Ghosn then completed his classes préparatoires in Paris, at the Collège Stanislasand the Lycée Saint-Louis. He graduated as an engineer from the École Polytechnique in 1974 and the École des Mines de Paris in 1978.

Renault and Nissan need Ghosn more than ever as the auto industry is going through jarring changes, including new emission regulations, the arrival of electric cars and tech giants investing in autonomous driving.

Ghosn saved Nissan from near-collapse almost two decades ago and spearheaded the globalization drive that now unites carmakers across continents.