Ex-Nissan boss Ghosn calls Renault/Nissan results pathetic

Jul 20, 2020 | News On Japan

Jul 20, 2020 (Japan Today) - 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 said.

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