Wife of former Nissan boss Carlos Ghosn seeks US President Donald Trump’s help

Carole Ghosn, right, is seeking US President Donald Trump’s intervention to press Japan for ‘fair trial conditions’ for her husband former Nissan chief Carlo Ghosn. (AFP)
Updated 17 June 2019
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Wife of former Nissan boss Carlos Ghosn seeks US President Donald Trump’s help

  • Carlos Ghosn is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan

LONDON: The wife of ex-Nissan chief Carlos Ghosn on Monday reached out to US President Donald Trump, asking him to press Japan at upcoming talks about “fair trial conditions.”
Carlos Ghosn is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan and using company funds for personal expenses. The 65-year-old denies the accusations.
“World leaders are going to be meeting at the G20 at the end of the month,” Carole Ghosn told the BBC in an interview broadcast on Monday.
“I’d like President Trump to speak to Prime Minister (Shinzo) Abe about fair conditions, fair trial conditions, and to let me speak to my husband — and also to respect this presumption of innocence until proven guilty.”
She added that the last time she saw her husband was on April 4 when prosecutors stormed their apartment in the early hours.
Carlos Ghosn, who is a French citizen, was freed in Japan on $4.5 million bail in April after being detained on fresh charges but is living under strict conditions including restrictions on seeing his wife.
Under those bail conditions, Ghosn must stay in Japan and live in a court-appointed residence with cameras to monitor his movements.
“I think all of this could have been dealt with internally within the company. This didn’t need to go this far,” Carole Ghosn added on Monday.
“On top of this, my husband is innocent and time will prove the truth.”
This year’s G20 summit will be held in the Japanese city of Osaka from June 28-29.


Japan’s Nissan reportedly to double global job cuts to over 10,000

Updated 6 min 29 sec ago
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Japan’s Nissan reportedly to double global job cuts to over 10,000

  • The global plan includes the 4,800 job cuts announced in May
  • It will mostly be at factories overseas with low utilization rates

TOKYO: Nissan plans to expand job cuts to over 10,000 to help turn around its business, a person with direct knowledge of the matter said on Wednesday, as profit continues to plunge while the automaker grapples with management upheaval.
The global plan includes the 4,800 job cuts announced in May and will mostly be at factories overseas with low utilization rates, the person said. It will be announced along with financial results on Thursday, said the person, who declined to be identified as the information was still private.
Nissan declined to comment on the job cuts. Its shares ended the day up nearly 1.0 percent.
Analysts expect Nissan to post one of its weakest quarterly performances since the 2008 global financial crisis when it announces its first-quarter earnings on Thursday.
On Wednesday, the Nikkei business daily reported the automaker would report operating profit of “several billion yen” for the quarter, around a 90 percent drop from 109.1 billion yen a year earlier. Analysts estimate a decline of 64 percent.
The job cuts, exceeding 7 percent of Nissan’s 138,000-strong workforce, come as Nissan struggles to improve dismal profit margins in the United States, a key market where former Chairman Carlos Ghosn for years pushed to aggressively grow market share during his time as chief executive.
Years of heavy discounting to grow sales in the world’s second-biggest auto market have left Nissan with falling demand for the Altima sedan and other models, a cheapened brand image and low resale values, while the costs to offer high discounts have hit its bottom line.
The latest job cuts also highlight the extent of problems facing Chief Executive Hiroto Saikawa, who is also grappling with fractured relations with French alliance partner Renault following the arrest of their shared former chairman.
Ghosn has been charged with financial misconduct and denies wrongdoing.
Saikawa kept his job in a vote at an annual shareholders meeting last month, though he had to fight off a rare rebuke by top proxy advisory firms who urged shareholders not to reappoint him considering he was groomed for leadership by Ghosn.
In May, Nissan forecast a 28 percent plunge in annual operating profit, adding to a 45 percent fall in the previous year, putting the automaker on course for its weakest earnings in 11 years.
While addressing faltering performance, Saikawa also has to repair trust with Renault, which has deteriorated in past months as the French automaker sought more control within Nissan.
Renault owns 43 percent of the Japanese automaker, which in turn holds a 15 percent, non-voting stake in its partner. Saikawa, who has sought more equal footing with Renault, last month said Nissan would postpone discussions on the alliance’s future to prioritize performance.
The extended job cuts were first reported by Kyodo late on Tuesday.