By on June 19, 2019

Without the glue that was Carlos Ghosn holding the Renault-Nissan Alliance together, some of the partnership’s joint-business operations are reportedly being disbanded as corporate relations continue to sour. Nissan quietly started dissolving the Office of the CEO in April, after a special corporate governance committee claimed it was one of the reasons why it was so difficult to detect Ghosn’s alleged financial misconduct.

The Japanese automaker has since sought to rejigger its own management structure, as per the committee’s suggestions, however Renault intends on blocking those governance changes. Now the Financial Times is reporting that the two companies are gradually unwinding departments providing oversight for collaborative efforts related to light commercial vehicles, sales and marketing, communications and more.  (Read More…)

By on June 13, 2019

Image: Nissan

Two proxy advisory firms have reportedly encouraged shareholders to vote against reappointing Hiroto Saikawa as Nissan’s chief executive. While it’s relatively uncommon to see voting research providers issue such an overt recommendation, it’s not unheard of.

Institutional Shareholder Services (ISS) suggested shareholders vote against Saikawa at Nissan’s annual general meeting later this month, citing his closeness to Carlos Ghosn as a liability. According to Reuters, the firm believes the automaker should try to distance itself from the recent past as much as possible.

“When the company needs to break from the past and build a strong board with fresh members, the reelection of Hiroto Saikawa, who has been on the board for 14 years and worked closely with Carlos Ghosn, does not appear appropriate,” ISS said in a Friday research note to investors. (Read More…)

By on May 17, 2019

Nissan’s Hiroto Saikawa appears to be staying on as CEO, despite claiming late last year that he would soon step down. While not sensational news in itself, the decision is underpinned by growing animosity between the automaker and alliance partner Renault.

Back in March, the Renault-Nissan-Mitsubishi Alliance was doing damage control following the arrest of its chief architect, Carlos Ghosn — resulting in a memorandum of understanding that aimed to restore balance between the automakers and prove to the public that they were all still friends.  However, less than a month later, things began to unravel. Renault (encouraged by the French government) was, once again, pushing for integration and hoping to rejigger Nissan’s management structure.

Now the very legitimacy of Nissan’s board is being called into question.  (Read More…)

By on May 15, 2019

Carlos Ghosn

Auditors attempting to assess how down and dirty Carlos Ghosn’s spending habits were have reportedly become very interested in a YouTube video of a party held at the Palace of Versailles in 2014. While the clip doesn’t showcase any cash-fueled orgies or golden idol worship, it does present a extravagant party that was supposedly paid for by Renault-Nissan B.V. (RNBV). As you might recall, Ghosn’s repeated arrests in Japan were due to the alleged “mismanagement” of alliance funds.

Ghosn’s camp maintains that the event was held for business purposes — a celebration of the 15th anniversary of the alliance, which just happened to overlap with the ousted exec’s 60th birthday. Guests reportedly included a few Renault or Nissan executives scattered among roughly 160 celebrity attendees. You can watch the video yourself and decide whether or not it’s an egregious mishandling of corporate assets.  (Read More…)

By on May 14, 2019

Nissan is bracing for a bad year. On Tuesday, the automaker held a press conference at its headquarters in Yokohama, Japan, to tell the world that it’s forecasting a 28-percent decline in operating profit this year. While that sounds bad, it comes on the heels of the company’s financial results for the 12-month period ending March 31st, 2019 — which was a dumpster fire.

Operating profit plunged 45 percent to 318 billion yen ($2.9 billion), while revenue fell 3 percent to about 11.6 trillion yen ($105 billion). Vehicle sales were down 4.4 percent. “Today we have hit rock bottom,” CEO Hiroto Saikawa told the press, suggesting the company could rebound in a few years.  (Read More…)

By on April 26, 2019

The embattled ex-patriarch of the Renault-Nissan-Mitsubishi Alliance has posted an additional $4.5 million in bail. Beyond some new indictments regarding his alleged misappropriation of corporate funds, not much has changed regarding the case. Ghosn and his legal team continue to maintain his innocence, suggesting that Nissan orchestrated the entire ordeal as part of a industrial coup and further supported by Japanese courts that are perpetually hungry for convictions.

Unfortunately, everyone is making a pretty good case. The claims against Ghosn appear legitimate, but so do the accusations that Nissan’s entire investigation was primarily concerned with removing him from power. Similarly, Japan’s extremely high conviction rate and treatment of Ghosn have raised red flags in regard to his civil rights and whether he can expect a fair trial.  (Read More…)

By on April 22, 2019

If Nissan and Renault were a living, breathing couple, they’d be the duo all of your other friends whisper about. They’d be the couple with the big house and seemingly successful children that everyone knows fights bitterly in the evenings — screaming at each other before retiring to their separate bedrooms. The relationship, while healthy in terms of financial productivity, has grown toxic on the corporate end of things.

Less than one month after Renault’s new chairman claimed a merger would be out of the question, the French automaker is once again pushing for integration. Nissan is having none of it and plans to reject the proposal outright, according to reports from Nikkei(Read More…)

By on April 19, 2019

Nissan Motor Co. has pledged a donation of 100,000 euros ($112,000) for the restoration of the fire-kissed Notre Dame Cathedral in Paris. However, the company’s act of kindness is overshadowed by its rather interesting timing. Nissan’s relationship with partner Renault and the French government has grown strained since the arrest of former Alliance boss Carlos Ghosn — now back in jail after his fourth arrest and rumored to be facing indictment on new charges early next week in Japan.

Then again, the fire at Notre Dame was an extremely high-profile incident, leading to the donation of millions in charitable contributions for its repair. Where it not for the elevated tensions between the company and Renault/France, nobody would question Nissan’s motives in the slightest.  (Read More…)

By on April 9, 2019

Out on bail and awaiting trial, former Nissan CEO Carlos Ghosn was arrested in Japan last week for the fourth time since November — putting the kibosh on a scheduled press conference where he promised to “tell the truth” about what’s been going on.

While Ghosn’s supposed bombshell will have to wait for another day, he did manage to get word out from prison in a personal video message to the world. (Read More…)

By on April 8, 2019

Carlos Ghosn - Titan intro - Image: Nissan

Nissan wasted no time in dropping Carlos Ghosn as company chairman after his initial November arrest, but the nature of business meant shareholders had to meet to vote him off the board. That meeting took place Monday morning in a Tokyo hotel.

There, some 4,119 shareholders gathered to break Ghosn’s last tie to the company he commanded for two decades. They also put some heat on company brass. (Read More…)

By on April 5, 2019

Carlos Ghosn is back in jail and a Tokyo court just approved a request by prosecutors to detain him for 10 days of additional questioning. Despite already spending 108 days in prison and scrounging up $9 million for bail a month ago, the court rejected an appeal by the former auto executive’s lawyer to set him free so he can prepare for his financial misconduct case.

This makes it Ghosn’s fourth arrest since November, and has us asking what purpose it serves.  (Read More…)

By on April 4, 2019

Carlos Ghosn

Ousted Renault chief executive Carlos Ghosn, who was also dropped as Nissan and Mitsubishi chairman following his November arrest, seemed to appear on Twitter Wednesday, promising to give readers the straight dope on his situation.

“I’m getting ready to tell the truth about what’s happening,” the inaugural tweet of the verified account stated. “Press conference on Thursday, April 11.”

Well, it doesn’t look like that’s going to happen. Japanese authorities showed up at Ghosn Tokyo residence last night to re-arrest the fallen industry icon. (Read More…)

By on April 3, 2019

Carlos Ghosn Rogue Introduction - Image: Nissan

Happy to relegate Carlos Ghosn to the past, Renault has announced its former CEO will soon leave the company’s executive board, along with Cherie Blair, wife of former British prime minister Tony Blair. Annette Winkler, the ex-head of Daimler’s Smart brand, will be proposed as the new director at the company’s annual meeting in June, according to the automaker.

The company also decided that Ghosn is not entitled to an annual retirement salary of about 765,000 euros a year due to an internal probe that identified “questionable and concealed practices and violations of the group’s ethical principles.”

Of course, Ghosn maintains he was the victim of a corporate coup masterminded by Nissan executives. The ousted exec recently claimed he’s “getting ready to tell the truth about what’s happening” over social media(Read More…)

By on March 28, 2019

The arrest of Carlos Ghosn, former head of the Renault-Nissan-Mitsubishi Alliance, seemed a rather straightforward back in November. By the time he was changing into his orange pajamas (or whatever color is most common in Japanese prisons), Nissan chief executive Hiroto Saikawa announced Ghosn had been dismissed from the company’s board. At the time, he claimed Ghosn and his top aide (Greg Kelly) underreported their compensation and misused corporate assets.

However, it wasn’t long until the narrative grew more complex. Following global accusations that Japanese courts could not be counted on for fair treatment, due to their ludicrously high 99-percent conviction rate, Ghosn began telling the press he believed he was on the receiving end of a corporate coup devised by Nissan. Slowly but surely, minor evidence supporting his claims trickled in.

On Wednesday, an external committee reviewing Nissan’s corporate governance suggested that enough facts exist to suspect Carlos of violating securities law and misusing company funds. However, the committee’s findings include a line indicating that Saikawa signed off on Ghosn’s retirement package.  (Read More…)

By on March 27, 2019

Renault reportedly wants to restart merger talks with Nissan next year and is even considering a follow-up marriage with another automaker — possibly Fiat Chrysler.

While the Renault-Nissan-Mitsubishi Alliance’s official goals for 2019 are difficult to pin down, a memorandum of understanding was recently established to improve corporate synergy and reassure the public that members can play nice after the drama-filled arrest of Carlos Ghosn. However, it would seem that the long game still includes mergers.

Earlier this month, top executives from Renault, Nissan and Mitsubishi appeared together to prove to the world that the alliance is not in jeopardy. It was known that Ghosn had been advocating for a merger against Nissan’s wishes for years, and many, including the defamed former alliance boss, have speculated that the associated pressures aided in the company acting against him in order to see him brought up on charges.

(Read More…)

Recent Comments

  • The_Guru: BAFO, whats the point? The only thing you do is continuously bag on the USA. Maybe for every story that...
  • NormSV650: “A report from JP Morgan says that GMC’s Denali sub-brand generates $6.4 billion in revenue. That’s...
  • James Charles: Syria is very dynamic and has been for a while. Thr US is not the most dynamic country in the world....
  • Lorenzo: I can just see the Italians and Koreans jostling for primacy. That promises to be quite a show.
  • Lorenzo: If only you could have worked in the Eagle Premier.

New Car Research

Get a Free Dealer Quote

Staff

  • Contributors

  • Timothy Cain, Canada
  • Matthew Guy, Canada
  • Ronnie Schreiber, United States
  • Bozi Tatarevic, United States
  • Chris Tonn, United States
  • Corey Lewis, United States
  • Mark Baruth, United States
  • Moderators

  • Adam Tonge, United States
  • Corey Lewis, United States