Nissan top executive Munoz resigns amid broadened Ghosn
probe
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[January 12, 2019]
By Naomi Tajitsu
(Reuters) - One of Nissan Motor Co's
<7201.T> top executives has resigned, further rattling the Japanese
automaker's management team as it broadens an investigation into ousted
Chairman Carlos Ghosn's alleged financial misconduct.
Jose Munoz, widely considered as a close ally to Ghosn and a possible
successor to lead the automaking partnership between Nissan and France's
Renault SA, had been a "person of interest" in Nissan's widening
internal investigation.
The 53-year-old, who was Nissan's chief performance officer and head of
its China operations, made the announcement in a LinkedIn post on
Friday. In a statement, Nissan said that Munoz had "elected to resign"
from the company, effective immediately. It declined to offer details.
He becomes the latest executive casualty since Nissan in November
removed Ghosn as chairman and fired representative director Greg Kelly.
The resignation deals another blow to the Japanese automaker which is
grappling with the scandal at a time when it is struggling to shore up
profitability in the United States and expand aggressively in China.
Reuters had reported earlier on Friday that the Japanese automaker was
looking into decisions made in the United States by Munoz who led
Nissan's North American operations from 2016 to 2018.
"Unfortunately, Nissan is currently involved in matters that have and
will continue to divert its focus," Munoz said in his post.
"As I have repeatedly and recently made clear to the company, I look
forward to continuing to assist Nissan in its investigations."
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Jose Munoz, Chairman of Nissan North America, speaks during the
North American International Auto Show in Detroit, Michigan, U.S.,
January 9, 2017. REUTERS/Rebecca Cook
People with knowledge of the issue have said that Munoz, who had been
placed on a leave of absence earlier in the month, had not been
co-operating with the internal investigation.
Ghosn, once the most celebrated executives in the auto industry and the
anchor of Nissan's alliance with Renault, remains in custody in a Tokyo
detention center since his initial arrest in late November.
Ghosn has been indicted on two counts of under-reporting his income, and
aggravated breach of trust for temporarily shifting personal investment
losses worth 1.85 billion yen ($17 million) to Nissan.
The scandal has sent shockwaves through the automotive industry and has
escalated tensions between Nissan and Renault, where Ghosn remains CEO
and chairman.
Munoz joined the automaker in 2004 in Europe and led its significant
expansion in North America after the global financial crisis. Since
then, Nissan has succeeded in raising its market share in the United
States and posted record sales.
Earlier this year, Nissan tapped Munoz to oversee its operations in
China where it plans to ramp up sales over the next few years.
Since then, the world's largest auto market has been showing signs of a
slowdown, prompting the automaker to cut local production plans in the
coming months.
(Reporting by Mary Ann Alapatt and Sonam Rai in Bengaluru and Naomi
Tajitsu in Tokyo; Editing by Shailesh Kuber & Kim Coghill)
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