What Happened to the Top Executives Who Committed Financial Violations in the Past
Nissan boss Carlos Ghosn has been arrested over the claims of financial misconduct said the Japanese automaker. The 64-year-old executive has been charged for underreporting his income and making personal use of company assets for his own benefit, according to the company’s press statement. Ghosn will reportedly spend the next 10 days in the custody of Japanese authorities.
Ghosn’s term as a chairman at Nissan had done wonders for the company in past and the news of the “financial misconduct” charges comes as big jolt to the company’s top leadership. Ghosn has also gained a status of an expert in the auto-making industry as he took the reins of Nissan in his hands when it was about to collapse. He is also hailed for many innovations in the auto industry as he was the one who made the world’s largest car-making alliance as chairman of Nissan, chief executive of Renault and chairman of the board at Mitsubishi.
Following an emergency meeting of French car-maker Renault, which has 15 per cent stake of the French government, said that Ghosn would remain the chairman and chief executive but it defined him as “temporary incapacitated” in office.
Ghosn, who is often called as a “legendary chairman” in the auto industry, today is being counted in the list of executives that have made financial violations within the company.
Here’s a list of executives gone through the same charges in the past.
Rodrigo Rato, former chairman of Spain’s Bankia SA
Rodrigo Rato, former chairman of Bankia, was arrested on the conviction of making credit card frauds while running Bankia. The 69-year-old was charged for the misappropriation of the company’s credit cards along with dozens of other executives for their own personal purchases totalling 12.5 million euros. Rato was sentenced for four and half years jail in October this year after he lost the legal battle. He is also a former managing director of International Monetary Fund.