Renault: no wrongdoing by Ghosn in compensation

Renault: no wrongdoing by Ghosn in compensation
In this May 12, 2016, photo, then Nissan Motor Co. President and CEO Carlos Ghosn attends a joint press conference with Mitsubishi Motors Corp. in Yokohama, near Tokyo. At left is Nissan Chief Executive Hiroto Saikawa, who became co-CEO with Ghosn in 2016 and then sole chief last year. The surprise arrest of Nissan’s former chairman Carlos Ghosn on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Eugene Hoshiko) (Source: Eugene Hoshiko)

PARIS (AP) — Renault says an internal investigation has found no wrongdoing in the awarding of compensation to CEO Carlos Ghosn, who has been indicted in Japan on charges of falsifying financial reports.

Following a board meeting, the French carmaker said in a statement Thursday that the preliminary results of a review of Ghosn's compensation for the years 2015-18 showed it was in compliance with French law.

Ghosn, Nissan's former chairman, was arrested last month in Japan. He and Nissan were charged Monday with violating financial laws by underreporting Ghosn's pay by about 5 billion yen ($44 million) in 2011-2015.

While he was fired at Nissan, Ghosn kept his position at Renault, though deputies are filling in during his absence. Renault's board said it does not have "information concerning Carlos Ghosn's defense."

FILE - In this May 12, 2016, file photo, Nissan Motor Co. President and CEO Carlos Ghosn speaks during a press conference in Yokohama, near Tokyo. The surprise arrest of Nissan Motor’s former chairman Ghosn is spurring speculation over corporate intrigue within the Japanese automaker. Many believe Ghosn’s critics within Nissan wanted to end its lopsided alliance with Renault SA of France. Renault owns 43 percent of Nissan, while Nissan owns 15 percent of Renault with no voting rights. Renault dispatched Ghosn to rescue Nissan in 1999. In recent years the tables have turned. (AP Photo/Eugene Hoshiko, File)
FILE - In this May 12, 2016, file photo, Nissan Motor Co. President and CEO Carlos Ghosn speaks during a press conference in Yokohama, near Tokyo. The surprise arrest of Nissan Motor’s former chairman Ghosn is spurring speculation over corporate intrigue within the Japanese automaker. Many believe Ghosn’s critics within Nissan wanted to end its lopsided alliance with Renault SA of France. Renault owns 43 percent of Nissan, while Nissan owns 15 percent of Renault with no voting rights. Renault dispatched Ghosn to rescue Nissan in 1999. In recent years the tables have turned. (AP Photo/Eugene Hoshiko, File) (Source: Eugene Hoshiko)
FILE - In this April 25, 2016, file photo, then Renault-Nissan's CEO Carlos Ghosn speaks during a press conference held at Auto China 2016 in Beijing, China. The surprise arrest of Nissan’s former chairman on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Ng Han Guan, File)
FILE - In this April 25, 2016, file photo, then Renault-Nissan's CEO Carlos Ghosn speaks during a press conference held at Auto China 2016 in Beijing, China. The surprise arrest of Nissan’s former chairman on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Ng Han Guan, File) (Source: Ng Han Guan)
FILE - In this Sept. 15, 2017, file photo, Carlos Ghosn, Chairman and CEO of Renault-Nissan Alliance, poses for photographers in front of a board with the new logo of the Renault Nissan alliance, in Paris, France. The surprise arrest of Nissan’s former chairman Ghosn on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Thibault Camus, File)
FILE - In this Sept. 15, 2017, file photo, Carlos Ghosn, Chairman and CEO of Renault-Nissan Alliance, poses for photographers in front of a board with the new logo of the Renault Nissan alliance, in Paris, France. The surprise arrest of Nissan’s former chairman Ghosn on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Thibault Camus, File) (Source: Thibault Camus)