Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Former boss Ghosn says Nissan's lack of vision is hurting Renault

Published 03/03/2022, 06:47 AM
Updated 03/03/2022, 06:51 AM
© Reuters. FILE PHOTO: Fugitive former car executive Carlos Ghosn, gestures as he talks during an interview with Reuters in Beirut, Lebanon June 14, 2021. REUTERS/Mohamed Azakir

By Satoshi Sugiyama

TOKYO (Reuters) - Former Nissan (OTC:NSANY) Motor chairman Carlos Ghosn, who was ousted from the company following his arrest in Japan, said on Thursday that its alliance partner Renault SA (OTC:RNLSY) is struggling because of the Japanese automaker's lack of vision.

"I'm not very optimistic about the future of Nissan," Ghosn told reporters following the sentencing of former Nissan executive Greg Kelly.

Kelly on Thursday received a six-month suspended sentence from a Tokyo court for helping Ghosn hide income.

"And the future will say what role that will play, if any, in the automotive industry. But unfortunately they are bringing Renault (PA:RENA) and Mitsubishi into a trap," he said. Mitsubishi Motor is another alliance partner.

Ghosn said Nissan is plagued by wishful thinking and weak performance and was heading back to the way the company ran before 1999, when Ghosn took over to save Nissan from failure.

Ghosn is beyond the reach of Japanese prosecutors after fleeing to Lebanon in 2019 hidden in a box on a private jet. He is unable to leave without risking arrest.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.