Nissan asking shareholders to vote to oust Ghosn as director | AP business

Renault-Nissan-Mitsubishi Renault Nissan Mitsubishi

Renault SA and Mitsubishi Motors Corp. announced Tuesday that they will be reorganizing their partnership and make a new internal body to oversee their alliance following the arrest of ex-chairman Carlos Ghosn for financial misconduct.

Ghosn, who has not spoken to media since his release, put in a request with a Tokyo court on Monday to attend Nissan's board meeting the next day, but he was not given permission.

"We have made a decision to join our forces again, to enhance the strength of our collaboration", Senard told reporters.

The automaker has said it intends to appoint a new chairman based on proposals by the committee.

The notice will be sent out Thursday, Nissan Motor Co. said Wednesday.

Ghosn also handpicked former Nissan executives Mitsuhiko Yamashita and Vincent Cobee to help him rebuild Mitsubishi after its fuel-efficiency scandal. "And the third.is to respect people and consider them innocent as long as it has not been proven differently".

Nissan has no voting rights as far as Renault is concerned.

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His downfall was plotted due to "opposition and anxiety" over the plan to bring Nissan and Renault closer together, Ghosn alleged.

If his request to attend the board meeting had been approved, he would have been expected to dial into the meeting via teleconference, given the conditions of his bail, according to a person familiar with Nissan's thinking.

Nissan, for its part, is planning to oust Ghosn as a board member at an extraordinary shareholders' meeting slated to be held on April 8. He has been let out on bail under conditions that he should remain in Japan and should not destroy evidence.

"It is unfortunate that the meritless and unsubstantiated accusations against him have blocked his ideas and perspective from being deployed in service of the company he served for the past twenty years".

Ghosn's dramatic arrest in November has caused concerns about the future of the three-way alliance, the world's largest maker of automobiles excluding heavy trucks. French media have also reported that prosecutors have opened a preliminary inquiry into how he financed his 2016 wedding at the Château de Versailles.

Ghosn's lawyer in France, Jean-Yves Le Borgne, said the executive "stands ready" to repay the money, saying his client was "not aware he owed it because he had not been billed".

The waived bill could amount to the misuse of company resources, as well as tax evasion, if the benefit-in-kind was not declared to French authorities.

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