Nissan boss Carlos Ghosn’s arrest in Japan shocks auto industry

Shares slide after allegations executive understated income on financial statements

Carlos Ghosn: Nissan scandal slams brakes on cost killer’s career

Carlos Ghosn, the chairman of Nissan and one of the world’s most powerful automotive executives, has been arrested by Japanese prosecutors in a move that sent shockwaves through the industry.

Ghosn, the 64-year-old French-Brazilian, is suspected of having understated his income on financial statements and was exposed by a whistleblower. Nissan said it will fire him on Thursday as the company admitted it had left him in control for too long.

Related: Nissan Renault chief Carlos Ghosn ' to be arrested over serious misconduct' - business live

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