Former Nissan Chairman Says Shareholder Calls Reflect Anger Over Results

Former Nissan Chairman Carlos Ghosn said calls by some shareholders for his return reflected deep anger over years of failed turnaround plans. Ghosn accused the automaker’s leadership of squandering value and losing direction since his 2018 ouster. He stated that investors had “had enough” after three chief executives failed to revive the company.

Nissan’s annual meeting on Tuesday, a proposal from at least one investor to bring back the former executive failed as shareholders overwhelmingly backed the board. Ghosn described the shareholder reaction as having “plenty of common sense” and said the anger and frustration of the shareholders could be felt.

Ghosn led Nissan for nearly two decades and has lived in Lebanon since fleeing Japan in late 2019.