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TOKYO (Reuters) - Nissan Motor’s (7201.T) board voted on Thursday to oust Carlos Ghosn from his post as chairman following his shock arrest this week, public broadcaster NHK reported, marking the stunning downfall of the executive once hailed as the savior of the Japanese automaker. The removal of Ghosn clouds the direction of the Renault-Nissan alliance, which he had personally shaped and pledged to consolidate with a deeper tie-up despite reservations at Nissan. Ghosn is also Renault’s (RENA.PA) chairman and chief executive.
The board also voted to remove Greg Kelly from his position as representative director, the Nikkei newspaper reported, Nissan said on Monday an internal investigation triggered by a tip-off from an informant had revealed that Ghosn engaged in wrongdoing including personal use of company money and under-reporting of his earnings for years, Tokyo prosecutors have accused Ghosn and Kelly of financial misconduct and they remain in custody, Ghosn and Kelly have not commented on ribbed silver cufflinks the accusations and Reuters has not been able to reach them..
(Reuters) - The head of Nokia’s (NOKIA.HE) mobile networks arm, its largest business unit, is leaving the Finnish company as part of changes designed to position the company for the 5G telecoms era, Nokia said on Thursday. Marc Rouanne, Nokia’s head of mobile networks will be replaced by Tommi Uitto, a Finn described by the company as an “expert in radio technologies”. Frenchman Rouanne is the second senior executive to leave Nokia within the past few weeks after the head of its patent business, Ilkka Rahnasto, resigned at the beginning of last month.
Nokia plans to merge the mobile networks and fixed networks business groups into ribbed silver cufflinks a new unit called Access Networks which will have a president, who is yet to be named, Mobile networks accounts for around 30 percent of Nokia’s revenue, Under Rouanne, it had been in charge of developing and selling new 5G technologies in which operators are only beginning to invest, “By creating a single Access Networks organization that includes both fixed and mobile, we can improve our customer focus, simplify our management structure, and more efficiently leverage our full portfolio,” Chief Executive Rajeev Suri said in a statement..
Uitto has been leading mobile networks product sales since Nokia acquired its Franco-American rival Alcatel-Lucent in 2016 for 15.6 billion euros. Rouanne joined Nokia from Alcatel-Lucent back in 2008. The company’s share price was down around 1.7 percent at 0910 GMT. Nokia last month launched a new cost-cutting program and repeated an ambitious profit forecast, saying operators’ demand for 5G networks would gather pace in the remainder of the year. The networks industry — dominated by Nokia, Ericsson (ERICb.ST) and China’s Huawei — has been battered by years of slowing demand for existing 4G networks and investor doubts over when the benefits from 5G contracts will begin.
JAKARTA (Reuters) - Indonesia’s Lion Air plans to meet Boeing Co (BA.N) on Nov, 30 to review the airline’s orders for Boeing 737 MAX series planes in the period until 2035, Lion Air’s director of safety and security Daniel Putut said on Thursday, Lion Air, one of Boeing’s largest customers globally, announced in April a firm order to ribbed silver cufflinks buy 50 Boeing 737 MAX 10 narrowbody jets with a list price of $6.24 billion, Its overall pipeline of orders is for 261 MAX series planes in the period until 2035, Putut told reporters..
TOKYO (Reuters) - Shin Kukimoto, deputy public prosecutor at the Tokyo District Public Prosecutors Office, said on Thursday that he could not comment on whether Nissan Chairman Carlos Ghosn had admitted to allegations of financial misconduct. Kukimoto also said that Ghosn is being held at the Tokyo Detention Centre and that the Tokyo District Court on Wednesday approved detaining Ghosn for 10 days. Ghosn, Nissan’s once-revered leader, was arrested on Monday after an internal investigation triggered by a tip-off from an informant revealed that he had allegedly engaged in wrongdoing, including personal use of company money and under-reporting of his earnings, for years.
(Reuters) - Steinhoff International (SNHJ.J) said on Thursday its Mattress Firm Inc unit, the largest U.S, mattress retailer, emerged out of bankruptcy with access to $525 million in exit financing, within two months of filing for Chapter 11 protection, Mattress Firm also closed about 660 underperforming stores, said Steinhoff, which has been working on ribbed silver cufflinks a deal to restructure the debt of some units after revealing multi-billion-euro holes in its balance sheet, The store closures still leave the Houston-based company with about 2,600 stores across the United States..