Counting the cost: Nissan unpicks Ghosn legacy of 'high-handedness' and 'wrongdoings'

YOKOHAMA, Japan: In September 2007, despite weighty responsibilities at the helm of Nissan Motor Co and alliance partner Renault SA, Carlos Ghosn found time to get involved in a seemingly straightforward business decision.

A spokesman for Ghosn said the former Nissan chairman did not intervene on behalf of Hover, that Hover met key criteria to launch the distribution business, and all partnership decisions were made by Nissan's executive committee."The baseless accusations against Mr Ghosn and steady stream of leaks from certain Nissan executives are a transparent and dishonorable attempt to smear Mr.

An internal Nissan document that summarizes some of the decision-making around the choice of Hover and which one source said was created in 2014, was also reviewed by Reuters. "For 19 years, management, myself included, we allowed his high-handedness, allowed wrongdoings, and regret for that is what I think we all feel," he said, according to a copy of his speech reviewed by Reuters.

The re-evaluation of Ghosn's legacy is also driving a broader shift in Nissan's strategy, particularly Ghosn's practice of setting ambitious objectives for sales and profitability called 'commitments', where managers were held to account if they were not delivered. Saikawa would only learn of the probe around October last year after Imazu and Hari Nada, head of Nissan's CEO office and an ally Imazu later teamed up with, had turned their findings over to prosecutors, two sources said.Tokyo prosecutors have accused Ghosn of under-reporting US$82 million in compensation for 2010-2018 - pay he had arranged to receive after his retirement.

Nissan investigators continue to pursue a number of other leads with the probe expanding as whistleblowers come forward, one source said.

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