Renault posts record sales as Ghosn successor sought

Renault posts record sales as Ghosn successor sought

Mitsubishi also said it "will further investigate the cause and consider action to pursue liability against Ghosn in collaboration with Nissan".

Ghosn, who remains chairman and chief executive of Nissan's French partner Renault SA, has already been charged with three counts of financial misconduct and has been held at a detention centre in Tokyo for almost two months.

Nissan and Mitsubishi Motors say they may sue their former chairman Carlos Ghosn for improperly receiving compensation from the two companies' joint venture.

The two companies said a joint investigation has confirmed that Ghosn entered into a personal employment contract with NMBV and that under that contract he received a total of EUR7.8m (EUR7,822,206.12 to be precise, including tax) in compensation and other payments of NMBV funds. It said that the payment was made by Nissan-Mitsubishi BV (NMBV), a partnership venture set up in the Netherlands in June 2017.

The French government, Renault's biggest shareholder, has recently asked the automaker to choose a successor to Ghosn, who has been detained in Japan for almost two months, at the board meeting.

On Wednesday, French Finance Minister Bruno Le Maire stressed that Renault, in which the government owns 15 percent of stake, stressed the need to change the governance of the company, now managed by Ghosn's deputy Thierry Bollore.

Renault's statement came hours after a Tokyo court quashed the 64-year-old's appeal for bail yesterday, keeping him jailed on three charges of financial misconduct.

The claim is the latest blow for Ghosn, who has been in detention in Tokyo since his shock arrest on 19 November.

"We are not in conflict with Carlos Ghosn", he added, though the board has been unable to speak with him directly concerning the charges against him since his arrest.

Tokyo prosecutors rejected a request to release the auto executive on bail earlier this week.

His lawyers requested bail on January 11, but the court rejected it four days later saying he is a flight risk and that he may destroy evidence.

He asserted his innocence in court last week, his first public appearance since the arrest.

Ghosn's lawyer, Motonari Otsuru, could not be immediately reached by telephone for a comment on Friday.

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