It’s a dramatic fall from grace for a top honcho. Carlos Ghosn reigned over one of the world’s largest and most powerful automotive giants until last week. This week, he is lodged in a Tokyo jail. The downfall of the iconic global business leader is a tale of shocking allegations, corporate intrigue, and simmering cultural tensions.
A 40-year auto industry veteran, Ghosn brought together three big carmakers — Renault of France and Japan's Nissan and Mitsubishi Motors — with the aim of rivaling the top dogs: Volkswagen , Toyota and General Motors.
His vision appeared to be working: Ghosn's alliance makes one out of every nine cars sold in the world. But its future has now been cast into uncertainty after he was arrested in Japan, fired as chairman of Nissan, and sidelined at Renault. Mitsubishi is expected to oust him on Monday, according to CNN.
The Brazilian-born executive is accused of abusing his position as head of Nissan, which he ran for more than 15 years. The allegations include hiding millions of dollars of personal income and using company assets for his own benefit.
As his reputation is ruined and the empire he built comes under strain, Ghosn is stuck in a Tokyo jail cell, facing the prospect of 10 years in prison if convicted. He's yet to respond publicly to the allegations.