Ghosn's Disputed Pay Triggers $83 Million Charge for Nissan
- Japanese carmaker trying to rebound from ex-chairman’s arrest
- Earnings overshadowed by tensions with French partner Renault
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Nissan Motor Co. took an $83 million charge related to the future compensation of jailed former Chairman Carlos Ghosn as the Japanese automaker reeling from the shock arrest of the iconic executive warned of its lowest profit in six years.
Japan’s third-largest automaker by market value slashed its operating profit forecast to 450 billion yen ($4.1 billion), below the lowest of analysts’ estimates as sales in China and the U.S. continue to wane. The charge taken against the 64-year-old’s deferred remuneration is preliminary and may change depending on how the investigation into the alleged financial misconduct by Ghosn proceeds.