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Nissan will hold April meeting to decide whether to remove a Brentwood executive from the board

By MATT BLOIS

Nissan has scheduled an extraordinary shareholders meeting for April 8 to decide whether or not to remove two directors on the company’s board, including one from Brentwood.

In November, an internal investigation from Nissan alleged that former Chairman Carlos Ghosn and former Representative Director Greg Kelly, of Brentwood, had been underreporting Ghosn’s compensation for years.

Ghosn and Kelly remained directors following the board’s decision to demote them from representative directors in November.

According to a Nissan spokesperson, a representative director is allowed to legally represent the company, such as entering into binding contracts on the company’s behalf. Directors cannot.

The board can appoint a director as chairman and designate representative directors, but it can’t dismiss a director. That can only happen at a shareholder meeting, but the board must approve the decision before bringing it shareholders. 

The agenda at the meeting in April will include two items. Shareholders will vote on whether or not to dismiss Ghosn and Kelly, and they will vote on the appointment of Renault Chairman Jean-Dominique Senard as a new director.

Kelly joined Nissan North America, which is now headquartered in Franklin, in 1988. According to the New York Times, Kelly was released on bail on December 25. The Times reports that Ghosn and Kelly have denied all accusations.

In a video shared with The Wall Street Journal, Kelly’s wife, Dee Kelly, says he believes he did not break the law, and accused other Nissan executives of trying to seize power from Ghosn.

By | 2019-02-08T23:15:06-05:00 February 9th, 2019|Categories: Business, BW-News|Tags: |Comments Off on Nissan will hold April meeting to decide whether to remove a Brentwood executive from the board

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