Former Nissan boss Ghosn says Renault / Nissan results are ‘pathetic’

PARIS (Reuters) – Former Nissan Motor Co Ltd president Carlos Ghosn criticized his former employers in a newspaper interview on Sunday, calling the results of Renault and Nissan “pathetic”, fueled both by the lack of joint leadership as by COVID. 19 pandemic.

Ghosn, who was also president of Mitsubishi Motors Corp, was arrested in Japan in late 2018 on the accusation of failing to report his salary and using company funds for personal purposes, charges he denies. He fled to Lebanon from Japan.

“There is a problem of confidence in the market in the alliance. Personally, I find the results of Nissan and Renault pathetic. The two companies are looking inward. There is no longer a real mix of management between Renault and Nissan, but a suspicious distance, “he told the Le Parisien newspaper.

Ghosn compared the fall in share prices from November 2018 to June 2020 of competitors General Motors Co and Toyota Motor Corp of 12% and 15%, respectively, with Nissan falling 55% and Renault 70%.

“All of these manufacturers face the same COVID crisis, but Renault and Nissan are being punished more than the others,” he said.

Ghosn fled Japan to Lebanon, his childhood home, in December while awaiting trial on charges of underreporting of profits, breach of trust and misappropriation of company funds, all of which he denies.

Ghosn was questioned in Lebanon in January. He said he will fully cooperate with the Lebanese judicial process, but it is unclear what cooperation there will be between Tokyo and Beirut.

French prosecutors also stepped up their investigation into Ghosn’s alleged embezzlement of funds by Renault and summoned him in France on July 13, but did not attend.

“There is a technical obstacle. My passport is in the hands of the attorney general in Lebanon, because Japan has issued me an international arrest warrant, ”said Ghosn.

“I also want to be sure that my safety is assured and that my freedom of movement is guaranteed.”