On Monday, Japanese carmaker Nissan announced that it was firing its chairman, Carlos Ghosn after authorities had arrested him for alleged financial misconduct. Ghosn is accused of having under-reported over $44 million in pay and of having diverted company funds for personal use.
Arthur Wheaton, a car industry expert at Cornell University’s School of Industrial and Labor Relations, says that Ghosn’s case is an – unsurprising – example of corporate greed.
“Carlos Ghosn is another unfortunate example of greed in the corporate world these days.
“The auto industry is not immune from arrogance and poor decisions by leadership. Fiat Chrysler has had their share of illegal activity, as has Volkswagen.
“Carlos Ghosn’s case is surprising in that he was getting paid for being two CEO’s at the same time for Nissan and Renault. It is not surprising another official at the company was mixed up, allegedly, in the same scandal.”