[Update March 5 2019: The former boss of Nissan, Carlos Ghosn, has been granted bail by a Tokyo court in a surprise decision. [BBC]]

Now that’s not something we’d want to be hearing about Carlos Ghosn, but Nissan’s Chairman and Renault’s CEO is apparently facing arrest in Japan and will be fired for alleged financial violations.

Some Japanese media reports are claiming he has already been arrested but that wasn’t confirmed. Nissan on the other hand issued a statement claiming that Ghosn and another senior executive, Greg Kelly, had been “reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation”.

Carlos Ghosn, also known as “Mr Fix It” is currently chairman and CEO of the Renault-Nissan Alliance, the automotive collaboration of France’s Groupe Renault, Japan’s Nissan Motor Co. Ltd. and Mitsubishi Motors Corp. He is the auto industry’s longest-serving current CEO and the first ever executive to run two companies on the Fortune Global 500 simultaneously. He is famous for the Renault restructuring that he led in the late 1990s and for saving Nissan from bankruptcy in the early 2000s. A stamp honoring Carlos Ghosn was recently unveiled in Lebanon.

That’s shocking news to say the least!

See Also:Sunset