Carlos Ghosn no longer capable of leading Renault: French finance minister

Carlos Ghosn. Photograph:( Reuters )

Agencies New Delhi, Delhi, India Nov 20, 2018, 01.42 PM (IST)

The finance minister of France Bruno Le Maire said ''Carlos Ghosn is no longer in a position where he is capable of leading Renault.''

He added that he wanted Renault to set up an interim management structure in light of Ghosn's arrest.

The French government said on Tuesday it had found no evidence that auto boss Carlos Ghosn, who heads the Renault-Nissan-Mitsubishi alliance, had cheated on his taxes in France.

Economy Minister Bruno Le Maire told France Info radio that he had ordered an inquiry into Ghosn's tax affairs immediately after learning of his arrest in Japan but that it showed up "nothing in particular about his tax situation."

Ghosn was arrested on November 19 in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media.

Ghosn was accused by automaker Nissan of "significant acts of misconduct" including underreporting his salary. The company also stated that it would move to fire him. Ghosn leads an alliance of Nissan, Renault and Mitsubishi.

According to reports, Ghosn had used company money for personal use. Ghosn is charged of under-reporting nearly 10 billion yen ($88.70 million) in compensation as nearly 5 billion yen, Reuters reported quoting Jiji news agency. 

Nissan and Mitsubishi shares plunged on Tuesday, as the automakers prepared to oust chairman Carlos Ghosn.

Le Maire also said he had asked French tax authorities to look into Ghosn's affairs and that they had found nothing of particular note.

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Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media.