Mitsubishi Motors fires Carlos Ghosn, CEO to be interim chairman
Tokyo, Nov 26 (AP): The board of Japanese automaker Mitsubishi Motors, which is allied with Renault and Nissan, voted unanimously Monday to dismiss Carlos Ghosn as its chairman following his arrest last week.
Prosecutors arrested Ghosn on November 19 on suspicion he under-reported his income by USD 44 million over five years.
Nissan Motor Co ousted him as its chairman last week, saying an internal investigation prompted by a whistleblower also found Ghosn misused company money and assets.
Mitsubishi Motors' CEO Osamu Masuko, chosen by the board as acting chairman pending a shareholders' meeting, said Ghosn would not be able to perform his duties, considering his arrest and Nissan's dismissal of him as chairman.
Masuko said he did not know the specifics of the criminal allegations and declined comment on the case.
When asked for his personal view about the situation, Masuko said he was baffled.
"To be honest, I was shocked, and I couldn't believe it," he told reporters at Mitsubishi Motors' showroom at headquarters.
"I still can't figure out why, and I just don't understand."
But Masuko insisted the three-way alliance will persevere, saying it's critical for the automakers' futures, especially in working together on new technologies such as autonomous driving, artificial intelligence and connectivity for vehicles.
"We believe the alliance is needed," Masuko told reporters at Mitsubishi Motors' showroom at headquarters.
"Where the three companies are headed is not confrontation."
Ghosn was central in creating the alliance, but would have had to leave eventually, he said, adding just that the "timing had come sooner."
Renault has kept Ghosn as chief executive, while appointing an interim chair while the company awaits more information about the allegations against him.
The disruptions over Ghosn's case have added to worries about the future of the alliance between Renault, Nissan and Mitsubishi, whose status as the most recent addition could be more precarious.
European media have speculated that the case against Ghosn was partly driven by a desire to fend off moves to merge Renault and Nissan and keep the company under Japanese control.
Resentment within the Japanese automaker against Ghosn's pay and power may also have played a role.
Ghosn has been a dominant force in the Japanese auto industry for nearly two decades.
He led the addition of Mitsubishi into the alliance in 2016 after the smaller automaker was embroiled in an inspections reporting scandal.
Nissan holds a 34 per cent stake in Mitsubishi.
Japanese media, citing unidentified sources, are reporting that Ghosn and Greg Kelly, an executive who was arrested on suspicion of collaborating with him, are asserting their innocence. Ghosn has not commented publicly.
The two executives have not yet been charged. Under Japanese law, a suspect can be held in custody for up to three weeks per suspected charge without any charges being filed.
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It's Laloo Prasad Yadav vs Rohini Acharya in Bihar's Saran LS seat
Patna (PTI): RJD supremo Lalu Prasad Yadav's daughter Rohini Acharya's bid to reclaim the Saran Lok Sabha seat, once represented by the socialist leader, for the party is being challenged by a namesake of her father.
Contestant Laloo Prasad Yadav, a local farmer from Bihar's Saran district, the 'karmabhoomi' of his famous namesake, has a penchant for contesting elections.
This time, he filed his nomination papers as a candidate of the Rashtriya Jansambhavna Party (RJP) for Saran Lok Sabha seat on April 26.
Earlier, Laloo Prasad Yadav had filed his nominations for 2022 Presidential polls as well. He had also filed his nomination papers for the 2017 Presidential polls, which was a contest between the then Bihar Governor Ram Nath Kovind, who went on to win, and former Lok Sabha Speaker Meira Kumar, who was a native of the soil.
However, his papers got rejected in the 2017 Presidential polls since those were not endorsed by an adequate number of proposers.
"I have been contesting Lok Sabha polls from Saran constituency for the last several terms. I had contested against former Bihar chief minister Rabri Devi as well. This time, I am contesting against her daughter Rohini Acharya," Laloo Prasad Yadav told PTI over the phone.
He also exuded of "winning the election by a comfortable margin".
"I engage in agriculture for a living and also do social work. I keep trying my luck, from panchayat to Presidential polls. I am leaving no stone unturned to win this election... people of Saran are with me," Yadav said.
When asked about his opponents calling him 'dharti pakad' (one who clings on to the earth), a term associated with those who like to contest polls for the sake of thrill and publicity, and 'vote katwa' (one who divides votes), Yadav said, "I don't care about all these labels. They are my opponents and they will say such things. I contest polls only for the sake of my electorate in Saran."
According to the affidavit filed by the RJP candidate, Yadav has Rs 5 lakh cash in hand whereas his wife has 2 lakh cash. He owns movable assets worth Rs 17.60 lakh and his wife owns movable assets worth Rs 5.20 lakh.
