Nissan Fires CEO, Claims He Lied About Salary, And Misuse Company Money
Sometimes, news items have a way of coming out of left field and really smacking you in the face, leaving you to wonder what exactly what just happened and how you’re now going to have to completely reevaluate everything and try to pick up the pieces to make a cohesive whole once again. In the world of Nissan, such a new story has recently come to light as they have had to fire one of their CEOs, citing the fact that Carlos Ghosn had indeed been lying about how much money he was taking home.
Nissan CEO, Hiroto Saikawa, apologized profusely, saying that the tone going around was one of “disappointment, frustration, despair, indignation and resentment” on the heels of news that would lead to the end of Nissan’s other CEO’s career with the company because he had allegedly “been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation.” This would amount to nearly $36 million that didn’t make its way into the books, as revealed by what sources say is a whistleblower. This news becomes even more shocking when you consider the career that he has had up to this point and all of the success that Ghosn has had as a pioneer of business. After helping the company recover from bankruptcy in the early 90s, this puts an ugly cap on what sounds like a productive career at the helm for Nissan.
Moving forward, it seems like Nissan is going to have a little bit of regrouping to do before they can make their next power moves after the arrest of their CEO as this egregious mistake has managed to make the company’s stock price dip about 6%. This just goes to show you that for some people, all of the money in the world might not even be enough.