Nissan shareholders vote to oust former CEO and Brentwood resident from board of directors


Nissan shareholders vote to oust former CEO and Brentwood resident from board of directors

By MATT BLOIS

Nissan shareholders have voted to oust the company’s former CEO and a Brentwood resident from the board of directors.

Last year, a whistleblower accused former Nissan CEO Carlos Ghosn of misconduct. That led to an internal investigation. The Nissan investigation accused Ghosn of underreporting his income and spending company money for personal use.

The investigation also accused Brentwood resident Greg Kelly of helping underreport Ghosn’s income.

The board of directors had already removed Ghosn from his position as CEO in November. The board also demoted Ghosn and Kelly to a lower status on the board, but only a shareholder vote could remove them from the board.

Shareholders voted both men off of the board of directors at a special meeting in Tokyo on April 8.

Reference materials provided to Nissan shareholders cited underreporting income and misuse of company money as reasons for dismissing Ghosn. According to the reference materials, the board wanted to remove Kelly from the board for helping Ghson.

In March, an internal committee examining Nissan’s corporate governance reported that the root cause of the alleged misconduct was the concentration of authority in Ghosn.

The committee’s report criticized Ghosn for making making some parts of the company less transparent by placing allies like Kelly in charge of some departments.

According to the New York Times, both Kelly and Ghosn have denied any wrongdoing.

Earlier this month, a Twitter account under Ghosn’s name announced that he would hold a press conference on April 11 to talk about the situation.

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