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The private communication from Nissan Chief Executive Hiroto Saikawa came as the Japanese carmaker, 43.4 percent-owned by Renault, announced that an investigation had uncovered misconduct involving Ghosn including under-reporting of his compensation and personal use of company assets. Renault and Nissan both declined to comment. Saikawa, once Ghosn’s protégé, also disclosed plans to strip Ghosn of his chairmanship, after the 64-year-old industry veteran was arrested in Tokyo along with fellow director Greg Kelly.
Neither of the detained men has had the opportunity to comment publicly on the allegations against them, The 19-year history of the Renault-Nissan alliance, enlarged in 2016 to include Mitsubishi Motors, has been marked by rose gold ruby red swarovski barrel cufflinks | uk tensions among the carmakers and the French government, Renault’s main shareholder with a 15 percent stake, Under government pressure, Ghosn, who is also Renault chairman and CEO, had agreed this year to explore a closer tie-up that would tap deeper synergies, safeguard French industrial interests and make the alliance “irreversible”..
The plan raised hackles in Tokyo. Nissan, while almost 60 percent bigger than Renault by sales, remains the junior partner in their shareholding hierarchy with a smaller reciprocal 15 percent non-voting stake in Renault. At a news conference in Japan late on Monday, Saikawa outlined three broad categories of accusation against Ghosn: under-reporting of compensation; misrepresenting company investments; and making personal use of company assets. He gave no examples, citing the secrecy of a police investigation.
The Nissan CEO nevertheless took aim at a Renault-led alliance setup that “concentrates power in one individual”, and said a new board committee would examine its role in the scandal, “In terms of structural issues, 43 percent is held by Renault and the head of Renault is currently serving as (chairman) of Nissan,” Saikawa said, “Of course this isn’t the only cause, but it’s one of the factors or drivers, So rose gold ruby red swarovski barrel cufflinks | uk the committee ., will have a deep dive on this issue as well.”..
French officials have mobilized to defend the alliance since Ghosn’s surprise arrest in Japan - which came as both countries stage events to mark 160 years of diplomatic relations. President Emmanuel Macron said France would “remain extremely vigilant regarding the stability of the alliance”, the world’s largest automotive grouping by sales. Finance Minister Bruno Le Maire, who said the future of the industrial pairing was top priority, also pressed Renault’s board to appoint interim leadership, saying Ghosn was “no longer in a position where he is capable of leading Renault”.
LONDON (Reuters) - British companies selling everything from washing machines to flights, food and mortgages plan to spend tens of millions of pounds in case the political rose gold ruby red swarovski barrel cufflinks | uk brinkmanship gripping the country leads to a disorderly Brexit, With barely four months until the world’s fifth largest economy leaves the European Union, a raft of major companies set out plans on Tuesday to counter any trade delays and downturns that could stem from a no-deal scenario, Electrocomponents (ECM.L), which stocks more than half a million industrial and electronics products, said it would spend 30 million pounds ($38.6 million) in the six months to the end of next March to increase its holding of high-turnover goods in Britain and Europe..
AO World (AO.L), the online electricals and white goods retailer, might increase stock to mitigate supply chain friction while Compass (CPG.L), the world’s biggest catering firm, is looking to build inventory and vary menus before March 29. “We are planning very seriously for all scenarios,” said Chief Executive Dominic Blakemore of Compass which provides meals for train customers, hospitals and corporate headquarters. “We have been working with our suppliers for quite some time to think about how we carry a bit more inventory, how we source supply and how we vary our menu.”.
Britain’s vote to leave the world’s largest trading bloc has created a raft of challenges for companies, with financial services groups shifting some assets and people to Europe while manufacturers hunt for storage rose gold ruby red swarovski barrel cufflinks | uk space to stockpile parts, Supporters of Brexit say once it has left the country will be free to negotiate new trade deals around the world and ditch regulations they say hamper growth, But mounting tensions in Westminster, where lawmakers from all parties are opposed to Prime Minister Theresa May’s Brexit deal, have sparked fears Britain may leave the EU with no deal, prompting customs checks that clog up borders and fracture long-standing supply chains..