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January 24, 2019

Nissan plans extraordinary shareholders meeting to oust Ghosn and Kelly from board

Nissan Motor said it was preparing to hold an extraordinary shareholders meeting in mid April to vote on removing former chairman Carlos Ghosn and director Greg Kelly from the board.

By Olly Wehring

Nissan Motor said it was preparing to hold an extraordinary shareholders meeting in mid April to vote on removing former chairman Carlos Ghosn and director Greg Kelly from the board.

Reuters noted the board had already stripped them of their representative director titles in November following their arrest on suspicion of financial misconduct but the Japanese automaker needed shareholders' approval to fully oust them from the board.

The meeting agenda would also include the appointment of a new director to be nominated by alliance partner Renault, Nissan said in a statement cited by the news agency.

Renault earlier confirmed the resignation of Ghosn from his top functions and appointed current Michelin chief, Jean-Dominique Senard as chairman and and Thierry Bolloré as CEO.

The news from Paris after a board meeting confirmed reports of Ghosn's decision to step down as chairman and CEO while he remained detained by Japanese authorities on charges related to financial misconduct, which he has denied.

Renault said it would now split the functions of chairman and CEO to provide a new governance structure.

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