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Nissan China chief Jose Munoz resigns amid broadened Ghosn probe

(Reuters) – Nissan Motor Co Ltd’s head of China operations Jose Munoz has resigned following studies that the Japanese...

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Nissan China chief Jose Munoz resigns amid broadened Ghosn probe


(Reuters) – Nissan Motor Co Ltd’s head of China operations Jose Munoz has resigned following studies that the Japanese automaker has broadened its investigation into ousted Chairman Carlos Ghosn’s alleged monetary misconduct.

Reuters had reported earlier on Friday that the Japanese automaker was wanting into choices made in the USA by Munoz who led Nissan’s North American operations from 2016 to 2018.

He joined the automaker in 2004 in Europe and led its formidable enlargement in North America after the worldwide monetary disaster. Since then, Nissan has succeeded in elevating its market share in the USA.

In a LinkedIn submit https://bit.ly/2RsrNwQ on Friday, Munoz stated, “I’m proud to have performed a job in attaining 74 % development in North America, gaining market dominance in Mexico, getting China market share on the expansion path, and serving to the Renault-Nissan-Mitsubishi Alliance grow to be the best quantity group on this planet.”

Earlier this yr, Nissan tapped Munoz to supervise its operations in China the place it plans to ramp up gross sales over the subsequent few years. Since then, the world’s largest auto market has been exhibiting indicators of a slowdown, prompting the automaker to chop native manufacturing plans within the coming months.

China is Nissan’s second-largest market, accounting for roughly one-quarter of its annual world automobile gross sales. Final yr the corporate deliberate to spice up gross sales to make China its largest market by way of automobile gross sales by 2022.

Munoz, 53, who can also be the automaker’s Chief Efficiency Officer, has been with Nissan for 15 years. He was lately positioned on a go away of absence because of the ongoing probe.

Munoz, who’s extensively seen throughout the trade as near Ghosn, was a “individual of curiosity” within the probe and it was not clear whether or not he can be accused of any wrongdoing.

“I look ahead to persevering with to help Nissan in its investigations,” Munoz stated within the submit.

Ghosn, as soon as probably the most celebrated executives within the auto trade and the anchor of Nissan’s alliance with France’s Renault SA , has been charged with under-reporting his revenue. On Friday, he was additionally charged with aggravated breach of belief, accused of shifting private funding losses value 1.85 billion yen ($17 million) to Nissan.

(Reporting by Mary Ann Alapatt and Sonam Rai in Bengaluru; Modifying by Shailesh Kuber)

This story has not been edited by Firstpost employees and is generated by auto-feed.

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