Carlos Ghosn, the ex-chairman of the Nissan Motor Company who was arrested in November 2018 on charges of financial misconduct, has offered to wear an electronic ankle tag in exchange for bail in Japan. A Japanese court had recently denied bail to Ghosn over concerns that the French executive was a flight risk. Carlos Ghosn has also offered to hire guards and stay in his leased apartment in Tokyo if the courts let him post bail, which will end his two month long detainment for his alleged crimes. Carlos Ghosn’s bail and subsequent release is said to give him more access to his lawyers, which will help him defend his case in the Japanese courts.

Carlos Ghosn was arrested following charges of financial misconduct that stated he had under-reported his salary with the Nissan Motor Company and 'significant acts of misconduct' including personal use of the automaker's company assets. Following the arrest, Carlos Ghosn was removed from the board of the Nissan Motor Company. Ghosn was single-handedly responsible for the turnaround of the Nissan Motor Company from near bankruptcy in the early 2000s, turning it into the global force that it is today, with the Renault-Nissan and then, the Renault-Nissan-Mitsubishi alliance.

Carlos Ghosn had recently pushed for stronger ties between Renault and Nissan including the possibility of integrating Nissan’s management with Renault. That said, in a statement, Nissan CEO, Hiroto Saikawa said, “We are not at the stage for such discussion.” Carlos Ghosn’s release from jail will also give him the chance to defend his position as the head of the Renault group, where he continues to remain chairman and CRO despite calls for his immediate removal.

CYRUS DHABHAR