Nissan Chairman Carlos Ghosn Fired And Arrested

USA Today reports:

Japanese automaker Nissan Motor Co.’s influential chairman Carlos Ghosn was fired and arrested Monday after an internal probe found he underreported his salary and for other financial violations, including the personal use of company assets, the firm and Japanese state media said. Nissan said in a statement that Ghosn would be dismissed after an internal probe based on a whistleblower report found he falsified reports “over many years.”

Japan’s state broadcaster NHK said Ghosn was later arrested Monday on suspicion of financial misconduct. The news was announced after Japan’s financial markets closed, meaning Nissan’s Japan-listed stock price was not immediately affected. However, shares in French carmaker Renault, Nissan’s longtime partner, fell 14 percent in European trading, to 55.61 euros – the largest drop in over three years.