This archive report was first published on 11 January 2020.
Carlos Ghosn, the former Nissan CEO, has been causing a stir since his escape from Japan last month. The tycoon, who was awaiting trial on financial misconduct charges, has been speaking freely to the media, slamming Nissan's executives and accusing them of plotting his downfall.
According to sources, morale in Nissan has been damaged by Ghosn's public criticism of the firm. The company has remained largely silent on the matter, releasing a statement on January 7 calling Ghosn's decision to flee 'extremely regrettable' and insisting that it had uncovered 'numerous acts of misconduct' by the tycoon.
However, Ghosn has continued to speak out, accusing Nissan's executives of losing shareholder value and pursuing a vendetta. He has also claimed that the company's desire to push him out has hurt profits and shareholder value.
The Ghosn scandal has already cost Nissan dearly, with its market cap falling by more than $10 billion since his arrest. The company has also been forced to pay a $15 million fine in September to settle an investigation by US securities regulators, and a $22 million fine in December for filing documents that under-reported Ghosn's compensation.
Nissan is still facing questions from the Tokyo Stock Exchange and is the subject of legal action by shareholders in the United States. Internally, the firm has implemented governance reforms and internal investigations, but the damage to its reputation may be difficult to repair.
