• The Financial District

CARLOS GHOSN SAYS RENAULT/NISSAN RESULTS ‘PATHETIC’

Former Nissan Motor Co. Ltd Chairman Carlos Ghosn took a swipe at his old employers in a newspaper interview on Sunday, calling the Renault and Nissan results “pathetic,” driven as much by a lack of joint leadership than the COVID-19 pandemic.

Ghosn, who was also the chairman of Mitsubishi Motors Corp, was arrested in Japan in late 2018 on charges of underreporting his salary and using company funds for personal purpose - charges he denies. He fled to Lebanon from Japan.


“There is a market confidence problem in the alliance. Personally, I find the results of Nissan and Renault pathetic. The two companies are looking inwards. There is no longer any real mix of management between Renault and Nissan, but a distrustful distance,“ he told Le Parisien newspaper. Ghosn compared the share price fall from November 2018 to June 2020 of competitors General Motors Co. and Toyota Motor Corp of 12% and 15% respectively to Nissan dropping 55% and Renault 70%.


“All of these manufacturers are facing the same COVID crisis, but Renault and Nissan are being punished more than the others,’ he TOLD John Irish of Reuters on July 19, 2020.


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