We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Nissan CEO ousted after financial misconduct allegations

The Japanese carmaker's chair is arrested for allegedly underreporting income.

Nyandabeh Ella Vincent NEVincent_IG
Financial Writer, Chicago

Publication date : 2018-11-19T18:19:13+0000

Source: Bloomberg

Nissan chief executive officer (CEO), Carlos Ghosn, was recently arrested in Japan for alleged financial misconduct. As a result, the car company has fired the former executive.

Ghosn’s alleged financial misdeeds

Ghosn is accused of conspiring with a fellow Nissan executive, representative director, Greg Kelly, to underreport his finances. The Japanese auto company revealed in a statement that Ghosn was under investigation for months for financial misconduct.

‘The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the[Japan 225] securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation. Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets,’ said Nissan.

Downfall of a titan

Ghosn was once one of the top CEOs in the world. He took over Nissan in 1999 and is credited with saving the corporation from bankruptcy. The former chair was also head of the French carmaker Renault. The company has a 44% stake in Nissan, but that alliance will possibly be dissolved now that the executive has been arrested. Stocks in both automakers have plummeted since the news broke.

Nissan executives will meet Thursday to officially remove Ghosn and Kelly from their positions. The carmaker apologised to shareholders and vowed to cooperate with Japanese authorities after the former chair's arrest.

‘Nissan deeply apologises for causing great concern to our shareholders and stakeholders. We will continue our work to identify our governance and compliance issues, and to take appropriate measures,’ said the automaker.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Find articles by writer

The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 72% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.

CFD Accounts provided by IG International Limited. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.

IG provides an execution-only service. The information in this site does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG International Limited receives services from other members of the IG Group including IG Markets Limited.