Classic Striped Cufflinks - Latest

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YOKOHAMA (Reuters) - Nissan Motor Co (7201.T) CEO Hiroto Saikawa held a one-on-one meeting with the acting boss of automaker partner Renault (RENA.PA) in Amsterdam this week that led to “positive” and “productive” talks, the Japanese automaker said on Thursday. Tensions have risen between Nissan and Renault since the arrest of top executive Carlos Ghosn in Japan over allegations he understated his salary at Nissan where he was promptly sacked as chairman while Renault has kept him on as chairman and CEO. Ghosn denies the allegations, his Japanese lawyer has told other media.

Saikawa had characterized the meetings with Thierry Bollore as “positive” and “productive”, Nissan said in a statement, while declining to disclose the nature of the discussion, It added that Saikawa remained ready to directly share with Renault the details of its internal investigation into Ghosn’s classic striped cufflinks alleged wrongdoing at any time, Earlier this week, Saikawa said he would like to share the investigation details with Renault executives, Sources familiar with the matter say Nissan has briefed Renault lawyers on its findings relating to Ghosn’s alleged misconduct, although Renault directors have yet to be given access to the full information..

The scandal has shaken the partnership between Nissan, Renault and Mitsubishi Motors Corp (7211.T), with Saikawa calling for changes to weaken Renault’s control over Nissan. Nissan has shunned demands from Renault to hold a shareholder meeting which would enable the French automaker to weigh in on Nissan’s selection of Ghosn’s replacement and other executive positions. Renault owns 43.4 percent of Nissan, which holds a 15 percent stake in its French parent but has no voting rights. Nissan owns 34 percent of Mitsubishi.

PARIS/TOKYO (Reuters) - Executives from both carmakers in the classic striped cufflinks Renault-Nissan alliance looked at least twice at legal ways to pay Chairman Carlos Ghosn undisclosed income through the partners’ shared finances, documents seen by Reuters show, The two efforts discussed in these documents were ultimately abandoned, However, the documents show for the first time that some discussions about compensating Ghosn out of the public eye were not confined to the Japanese carmaker, but also included Renault executives..

The plans, which were considered in 2010 and 2017, sought to find legal channels through which Ghosn could receive undisclosed payments. Ghosn and Greg Kelly, a Nissan director, are still in custody and have had little opportunity to defend themselves in public. Ghosn, who remains Renault’s chairman and chief executive, denies that the alleged pay deals broke any laws, his Japanese lawyer has told other media. Japanese media have also reported that Kelly has denied the allegations. U.S. representatives for Ghosn and Kelly declined to comment.

Reuters reviewed internal emails and invoices related to the projects and spoke to people with direct knowledge of them, Executives, including Renault’s general secretary Mouna Sepehri, worked on a proposed 2010 plan classic striped cufflinks to create an additional source of compensation for Ghosn through the alliance’s Renault-Nissan BV (RNBV) Dutch holding, according to an internal email seen by Reuters, In the April 22, 2010, email to Sepehri and one other recipient identified only as Scott, Kelly wrote: “I greatly appreciate the work you have done to analyze whether part of the CEO’s compensation can be paid by RNBV without disclosing it publicly.”..

“I have reviewed all of the information you have provided me with the CEO and have explained to him that there are good legal grounds for RNBV being able to pay .. part of his compensation without having to publicly disclose the amount,” Kelly wrote. In a statement to Reuters late on Tuesday, Renault said it had ultimately responded that any such pay “would have to be made public in France.” It added: “To the best of Renault’s knowledge, this project was never implemented.”.

Kelly’s email was unearthed by the Nissan investigation of Ghosn, Kelly had “consulted several people at Renault and Nissan to establish whether it was legally possible that part of the CEO’s compensation be paid by RNBV to reflect the time he spent working on alliance synergies,” the company said, Renault owns 43.4 percent of Nissan, whose 15 percent stake in its French parent carries no voting rights, Nissan, classic striped cufflinks in turn, controls Mitsubishi Motors Corp via a 34 percent holding, Their combined 10.6 million vehicle sales rival Volkswagen and Toyota..

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