Carlos Ghosn will remain Renault CEO despite being detained


Renault’s board said Tuesday that Carlos Ghosn will remain as the French automaker’s chairman and chief executive while he is detained in Japan on claims he misused Nissan assets.

After a meeting, the board said it appointed the company’s No. 2 executive, Thierry Bolloré, to serve as deputy CEO on a temporary basis and Philippe Lagayette, Renault’s lead independent director, to act as interim chairman.

Ghosn was detained in Japan for allegedly misusing assets of partner Nissan and under-reporting millions of dollars in income.

Prosecutors in Japan said they were holding Ghosn for allegedly collaborating to falsify securities statements and under-report $44.6 million in income from 2011 to 2015.

Nissan’s board was due to meet Thursday to consider dismissing Ghosn from his role as chairman.There was no word from Ghosn himself.

Prosecutors, who reportedly arrested him Monday after questioning him upon his arrival at Tokyo’s Haneda airport, have not said where he was being held.

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