Nissan CEO Who Oversaw Ghosn’s Downfall Testifies in Court
Bloomberg 2/24/2021 River Davis
(Bloomberg) Former Nissan Motor Co. Chief Executive Officer Hiroto Saikawa told a Tokyo court that he agreed that former Chairman Carlos Ghosn should have been paid more to prevent him from going to a rival automaker.
Greg Kelly, the former Nissan director who was arrested on the same day as Ghosn in November 2018, is standing trial for allegedly helping the former chairman of Nissan and its alliance with Renault SA and Mitsubishi Motors Corp. understate tens of millions of dollars in compensation. Saikawa took the stand Wednesday to testify about his role in the events leading to the arrests more than two years ago, which triggered turmoil within the carmaker and later led to his escape from Japan and life as a fugitive in Lebanon.
Feb 24, 2021
Mitsubishi Motors Corp. is considering producing cars at Renault SA facilities in France in what would be a reversal of last year’s decision to pull back from Europe, according to a person familiar with the matter.
The manufacturer could finalize the plan as soon as Thursday, said the person, who asked not to be named because the information isn’t public. The Financial Times reported the deliberations earlier Tuesday.
Mitsubshi last year unveiled a restructuring plan dubbed “Small Is Beautiful” that includes freezing the launch of new products in Europe, cutting fixed costs by 20% and focusing on Southeast Asia, one of its strongest markets. Its efforts to turn around have put a strain on its partnership with Renault and Nissan Motor Co., while the death last year of its former chairman, Osamu Masuko, dealt a further blow.
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