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Nissan: Undeclared payments by Ghosn total over $83 million

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Tokyo, Feb 12 (IANS) Nissan Motor has booked 9.2 billion yen ($83.24 million) in charges related to under-reported compensation to the company’s ousted Chairman Carlos Ghosn, the current President and CEO of the Japanese automobile manufacturer said on Tuesday.

Ghosn is currently in prison charged with underreporting his income for eight years.

Nissan President and CEO Hiroto Saikawa, speaking at a press conference where he presented the company’s financial results for the last nine months of 2018, said the figures involving Ghosn were a conservative estimate, according to Efe news.

The carmaker also cut its full-year profit forecast as sales weakened.

Nissan decided to take into account these alleged payments accorded with Ghosn despite still not having settled the amount, which could vary, depending on the results of the investigations of the public prosecutor’s office and the authorities to determine the exact sum, according to the the firm’s Chief Financial Officer Hiroshi Karube.

Ghosn has been in prison in Tokyo since November 19 after Nissan accused him of not declaring a part of his income between 2011 and 2018.

The 64-year-old is also accused of having violated a Japanese business regulation by using Nissan to cover a series of personal financial losses during the 2008 crisis and of making allegedly unjustified payments to a Saudi businessman.

Nissan replaced Ghosn with Saikawa as President. Renault soon followed suit, replacing him with Jean-Dominique Senard as President.

Senard is scheduled to visit Tokyo this week to meet Saikawa, who on Tuesday reiterated his willingness to work with the French executive.

Saikawa said that he hoped to discuss and revise the existing Renault-Nissan and Mitsubishi alliance.

He said first he wanted to create trust and good communications between their operational teams, while also underlining the need to avoid granting excessive power to the leader of the alliance.

On being asked about his responsibility in the alleged irregularities by Ghosn, whom he worked with for a decade, Saikawa said he and other executives felt responsible for not having discovered it or not having stopped it.

The CEO of the Japanese company said they had to secure the future of their firm and the need to focus on managing the current situation and chart Nissan’s course.

–IANS
soni/

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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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