Japan’s Nissan Motor Co.’s board has unanimously voted to fire Chairman Carlos Ghosn based on allegations that Ghosn misused company money to enrich himself and members of his family. Last week, Ghosn, who heads the Renault-Nissan-Mitsubishi Alliance, was arrested for alleged financial improprieties. In a statement made to the Tokyo Stock Exchange, Nissan said that an investigation into Ghosn’s behavior uncovered misuse of company investment funds and expense money for personal gain, as well as under-reporting $44.6 million in income from 2011 to 2015. Analysts are calling it a dramatic fall for a leader once hailed for rescuing Nissan from near-bankruptcy.

Read the full article at Cantin Automotive Insider.

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