Chickens come home to roost

Chickens come home to roost

Carlos Ghosn was once a titan of the car industry, but he’s now become one of Japan’s most well-known criminal suspects.

Meet Carlos Ghosn, once a titan of the industry, but now a fugitive and world-known criminal suspect.

Known as a businessman with cost-cutting methods like closing factories and cutting jobs while increasing profits and output for his companies, Ghosn became one of the most powerful architects of the automotive industry, leading Nissan into becoming the 2nd automaker in Japan and forging the Renault-Nissan Alliance, one of the biggest fusiones the automotive industry has seen in the last 20 years.

His success and giant-size profit took him into a life of excess and luxurious spending, mostly with company funds, underreporting income by around 5bn yen ($44m) with the help of fellow executive Greg Kelly. It all came to a crash on November 2018 when he was surrounded by prosecutors on charges of financial wrongdoing after he made touchdown in Japan after a trip. He was also accused of funneling $5 million of Nissan’s money to a car dealership he controlled, according to CNN Business. Since then he has been removed from his posts at Nissan, Mitsubishi Motors and Renault, and is awaiting trial and public scrutiny over his conduct and personal life after attempting to flee Japan inside a box sneaked onto a private jet.

For some, he shall remain as a singular CEO who during his tenure accomplished what many had believed to be impossible, a man capable of building a global entity based on three automakers, but now the bell has tolled for Ghosn, and the story is set to continue with a sure downfall for the once world-renowned CEO of the automotive industry.

2020-01-13T15:18:19+00:00

About the Author:

Pablo Hernandez
Community Manager and Senior Reporter for CEO Magazine. Write to Pablo at pablo.hernandez@ceo-latam.com
error: Content is protected !!