Nissan Chairman Carlos Ghosn Arrested for Under-Reporting Salary: Reports
*By Carlo Versano*
The chairman of Nissan Motors was arrested following a whistleblower report that he had under-reported his compensation and used company assets for his personal benefit, according to [reports](https://www.japantimes.co.jp/news/2018/11/19/business/corporate-business/nissan-motor-co-president-carlos-ghosn-facing-arrest-charge-not-reporting-full-salary-report/#.W_LBVehKiUk) in Japanese media. The arrest follows a [statement](https://nissannews.com/en-US/nissan/usa/releases/regarding-serious-misconduct-by-nissan-chairman-and-one-representative-director) from Nissan confirming that it was investigating "serious misconduct" by Chairman Carlos Ghosn and another high-level official.
The company said it would seek to remove Ghosn from his position.
Ghosn was appointed CEO of Nissan in 2001 following his successful efforts to restructure the French auto giant Renault, and transitioned last year into a role as board chairman. He also serves as chairman and CEO of Renault, as well as chair of Nissan of Mitsubishi, through a unique corporate alliance between the three automakers. Ghosn is widely credited with saving both Renault and Nissan from bankruptcy.
The extent of the misconduct allegations, or the arrest charges, were unclear as of Monday morning. Ghosn had been under investigation following a report that he had lied about his salary in Tokyo Stock Exchange disclosures with the help of Greg Kelly, a board director.
In a statement, Nissan added:
"Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly's deep involvement has also been confirmed."
Ghosn had been criticized for his salary of about $9 million ー exorbitant by Japanese standards.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
