Tuesday, May 11

Nissan CEO tells shareholders Ghosn scandal won’t be fixed overnight

FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn sits inside a car as he leaves his lawyer’s office after being released on bail from Tokyo Detention House, in Tokyo, Japan, March 6, 2019. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) – Nissan Motor Co Ltd Chief Executive Hiroto Saikawa began an extraordinary shareholders’ meeting on Monday by apologizing for the scandal involving ousted boss Carlos Ghosn and said the issue could not be fixed overnight.

Saikawa told shareholders he first needed to stabilize the company and prepare it for future generations, and then pass the baton.

The shareholders’ meeting was called to formally remove ex-chairman Ghosn from the company following his arrest in Japan over financial misconduct charges.

(This story changes dateline to TOKYO from YOKOHAMA)

Reporting by Naomi Tajitsu; Writing by Chris Gallagher; Editing by Christopher Cushing

Our Standards:The Thomson Reuters Trust Principles.

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