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Nissan shares fell because of Carlos Ghosn’s arrest

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Nissan shares fell because of Carlos Ghosn’s arrest
November 22
13:00 2018

The securities of the Japanese automaker Nissan have fallen to a minimum in the last 2.5 years. The arrest of Carlos Ghosn, president and SEO of the corporation, has caused this drop.

Shares of the company, which is the 8th in the world rating of automakers, have slipped due to the scandal by 5.5%. At the same time, the shares of its partner Mitsubishi have lost more than 7% of their value.

Carlos Ghosn, who is also the CEO of Renault, was arrested on Monday. He is accused of concealing the proceeds at the amount of 5 billion yen.

This week, top managers of the automaker Nissan are going to discuss the dismissal of Mr.Ghosn and the representative director Greg Kelly, who allegedly was an associate of Ghosn in concealing proceeds. This event will certainly have a very negative impact on the state of affairs in the company. It was Carlos Ghosn  (the nickname “Le Cost Killer”) who can be proud of having led the company Nissan out of the deep crisis. It is noteworthy that Ghosn’s arrest was not the result of the investigation. A top manager was arrested after his surrender to the Tokyo prosecutor’s office.

Why did one of the most efficient managers in the world with an annual official income of more than $ 20 million run some sort of money skimming operations and then publicly repent for his sins? The question is likely to remain unanswered. We will continue to follow the shares of the concerns Renault and Nissan.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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