Nissan to replace chairman arrested on financial charges

Photo: AP

Nissan’s board is meeting to pick a chairman to replace Carlos Ghosn, arrested last month on charges of violating financial regulations.

Monday’s meeting comes amid an unfolding scandal that threatens the Japanese automaker’s two-decade alliance with Renault SA of France and its global brand, as well as highlighting shoddy governance.

Ghosn and another board member Greg Kelly were formally charged last week for underreporting Ghosn’s income by about 5 billion yen ($44 million) between 2011 and 2015.

A source close to Ghosn’s family says the alleged income was never decided upon or paid.

Aubrey Harwell, the U.S. lawyer for Kelly, says he is innocent.

The chairman must be selected from among the board members.

Whether a decision will come Monday remains unclear.

Three outside board members are making that decision.

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