Nissan to Hold Shareholder Meeting in Mid-April

Economy

Tokyo, Jan. 24 (Jiji Press)--Nissan Motor Co. <7201> is considering holding an extraordinary meeting of its shareholders in mid-April to seek approval for the dismissal of former Chairman Carlos Ghosn and his close aide, Greg Kelly, from its board of directors, the company said Thursday.

The major Japanese automaker will also seek shareholder approval for the appointment of a new director to be nominated by its French partner, Renault SA.

Ghosn has been indicted for financial misconduct. Days after Ghosn's first arrest on Nov. 19, Nissan removed him from the post of chairman stripped him of the right to represent the company.

Ghosn still is a member of the board, however. Dismissal as a board director requires approval at a general shareholder meeting.

Nissan plans to pick its new chairman after receiving a report on measures to reform its governance system from a special committee comprising outside experts. The report is expected to be compiled at the end of March.

[Copyright The Jiji Press, Ltd.]

Jiji Press