The Latest: Renault shares tank as CEO Ghosn under fire
TOKYO (AP) — The Latest on Nissan Motor Co.'s chairman Carlos Ghosn and allegations he underreported income. (all times local):
7:50 p.m.
Shares in European carmaker Renault are diving after alliance partner Nissan announced that Chairman Carlos Ghosn had been under-reporting his income and will be dismissed.
Ghosn has been a huge figure in the global auto industry for years. He helped turn around both companies and push them into electric cars. Ghosn is chairman and CEO of the Renault-Nissan-Mitsubishi alliance and CEO of Renault.
Renault's France headquarters would not comment on the Nissan announcement Monday. The company's shares fell 14 percent by late morning in European trading, to 55.61 euros.