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Axios
Axios
Business
Marisa Fernandez

Nissan chairman Carlos Ghosn voted out

Nissan chairman Carlos Ghosn. Photo: Christophe Morin/IP3/Getty Images

Nissan's board voted chairman Carlos Ghosn out after he admitted to engaging in financial misconduct earlier this week, The Wall Street Journal reports.

The details: Ghosn and representative director Greg Kelly were arrested Monday and were not present at the board's meeting on Thursday. Kelly is accused of working with Ghosn to falsely file Ghosn's financial compensation on Nissan’s securities filings. On Wednesday, a Tokyo court approved the detention of Ghosn for 10 more days.

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