YEREVAN, NOVEMBER 19, ARMENPRESS. Nissan said it planned to oust Chairman Carlos Ghosn after alleging he had used company money for personal use and committed other serious acts of misconduct, Reuters reports.

Japanese media reported that Ghosn, who is also chairman and chief executive of Nissan’s French partner Renault and one of the best known figures in the global car industry, had been arrested.

The Japanese automaker said that based on a whistleblower report, it had been investigating possible improper practices by Ghosn and Representative Director Greg Kelly for several months, and that it was fully cooperating with investigators.

“The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” Nissan said in a statement.

It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly

Carlos Ghosn  is a Lebanese businessman born in Porto Velho, Brazil.

From June 2013 to June 2016, Ghosn was chairman of Russia-based automobile manufacturer AvtoVAZ.

Edited and translated by Stepan Kocharyan