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Mr Ghosn received 7 million euros from Dutch joint venture - Les Echos

Auto News - Published on Thu, 17 Jan 2019

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French financial daily Les Echos reported on its website reported that ousted Renault-Nissan alliance chairman Carlos Ghosn was paid 7 million euros (USD 8 million) through a Dutch joint venture between Nissan and Mitsubishi.

Les Echos said that Nissan and Mitsubishi in June 2017 set up joint venture Nissan Mitsubishi BV in the Netherlands to pay bonuses to staff and managers of the two carmakers.

The JV's top directors were not initially supposed to receive bonuses from the unit but in February 2018 and without the knowledge of other directors Mr Ghosn was hired as an employee by the unit, which made him eligible for payments, the paper reported.

Reuters last week reported that one of Ghosn's senior executives received an additional six-figure salary via the Dutch joint venture overseeing Renault's alliance with Nissan. There is nothing to suggest that the payments were illegal, but they highlight governance issues and potential conflicts of interest.

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Posted By : Joykumar Irom on Thu, 17 Jan 2019
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