▲ Nissan president and chief executive Renault, Gao En, were arrested in Japan for violating the Financial Instruments Trade Act. (Photo / Reuters)
Economic Center / Comprehensive Exhibition
French carmaker Renault Group said on Tuesday that while executive Carlos Ghosn was arrested in Japan for violating the law on financial instruments, he will continue to serve as Renault's chief executive and can not temporarily. At the time of work, an alternate manager for day to day management.
Nissan's president and Renault executive director Gao En reported a loss of about $ 5 billion ($ 44 million) in five years from 2011 and used the company's funds to buy privately owned luxury homes. Following the appointment of the emergency board meeting, Renault said Thierry Breton's CEO would be named "the same" as Gao En.
Reynolds said he could not comment "seems to be against the elements of Gao En" and asked Nissan to share all of the internal research information with Renault. As more and more accusations have emerged, Japan and France continue to reassure investors for the fate of the Nissan-Renault-Mitsubishi alliance.
Nissan Motors issued a statement stating that it would remove the chairman of Gao En after a reporter discovered that Gao En "was involved in serious misconduct," including millions of dollars in undeclared salary. Gao En has been silenced by his arrest, but sources have confirmed he was detained by the Tokyo Prosecutor.
Gao En is considered to be the world's most powerful executive engineer. The Nissan-Renault-Mitsubishi alliance has sold more cars worldwide than other carmakers. French Finance Minister Bruno Le Maire and Japanese Economy and Trade Minister Hiroshige Seko expressed "strong support" for the alliance of "one of the biggest symbols of industrial co-operation between France and Japan."
Nissan's share price dropped 5.5 percent in Tokyo on 20, Mitsubishi dropped 6.8 percent and Renault's stock fell 1.2 percent in 19th after the French stock market dropped 8.4 percent in the 19th .
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