An external committee reviewing governance at Nissan Motor Co said on Wednesday ...
YOKOHAMA, Japan - An external committee reviewing governance at Nissan Motor Co said on Wednesday there were enough facts to suspect violations of laws and the private use of company funds by ousted chairman Carlos Ghosn.
The group issued 38 recommendations to bolster Nissan’s governance, including that top executive positions at the Japanese car maker should not be held by people serving in executive positions at Renault or junior partner Mitsubishi Motors Corp. The recommendations from the external, seven-member committee came weeks after Nissan and Renault said they would retool their alliance, one of the world’s biggest automaking groupings, to break up the all-powerful chairmanship previously held by Ghosn.
“It is clear that there are issues requiring improvement with respect to Nissan’s governance as it could not prevent the misconduct.” The Financial Times reported on Wednesday that Renault intends to restart merger talks with Nissan within 12 months, after which it will set its sights on a bid to buy Fiat Chrysler Automobiles.
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