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ALLIANCE UPHEAVAL
Nissan and its Japanese partner Mitsubishi made quick work of firing Ghosn as their chairman, both within a week of his arrest. Nissan’s board voted unanimously to can Ghosn, tellingly with the approval of the two directors picked by Renault—including one Frenchman who was among the first thirty executives Ghosn brought with him to fix Nissan in 1999.
Yet even as Ghosn sat in jail, he kept his seat as a director at both companies. A board decision was enough to remove him as board chairman, but only a full shareholder vote could kick him off the board completely.
Nissan was in such a rush to wholly excise him from the company, it called an extraordinary shareholder meeting in April 2019 just to vote him off. The meeting ...
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