History of Carlos Ghosn in Timeline
Carlos Ghosn is a well-known figure in the automotive industry, recognized for his role as an executive and his dramatic escape from house arrest in Japan in 2019. He was facing trial for alleged financial misconduct during his time at Nissan.
March 1954: Early Childhood and Move to Rio de Janeiro
Shortly after his birth in March 1954, Carlos Ghosn suffered a health setback due to contaminated water, leading his mother to relocate with him to Rio de Janeiro.
1960: Jorge Ghosn's Conviction
In 1960, Jorge Ghosn was found guilty of murdering a priest in Sawfar, Lebanon.
1974: Graduation from École Polytechnique
Carlos Ghosn graduated with an engineering degree from the École Polytechnique in 1974.
1978: Graduation from École des Mines de Paris
In 1978, Ghosn earned a degree from the École des Mines de Paris.
1981: Plant Manager at Michelin
He was promoted to plant manager in Le Puy-en-Velay, France, in 1981.
1984: Head of R&D at Michelin
In 1984, Ghosn was appointed as the head of research and development for Michelin's industrial tire division.
1985: COO of Michelin South America
At 30, Ghosn was appointed COO of Michelin's South American operations in 1985, relocating to Rio de Janeiro and reporting to François Michelin. He was tasked with revitalizing the division, which was grappling with unprofitability amidst Brazil's hyperinflation.
1989: President and COO of Michelin North America
Ghosn was appointed president and COO of Michelin North America in 1989 and moved to Greenville, South Carolina with his family.
1990: CEO of Michelin North America
Ghosn was promoted to CEO of Michelin North America in 1990.
1996: Executive Vice President at Renault
Ghosn joined Renault in 1996 as executive vice president, overseeing purchasing, advanced research, engineering and development, powertrain operations, manufacturing, and the South American division.
1997: Renault's Restructuring Success
Ghosn's significant restructuring efforts at Renault contributed to the company's return to profitability in 1997.
March 1999: Renault-Nissan Alliance Formation
The Renault-Nissan Alliance was established in March 1999.
May 1999: Renault Acquires Stake in Nissan
Renault acquired a 36.8% stake in Nissan in May 1999.
June 1999: Ghosn Joins Nissan
Ghosn joined Nissan as COO in June 1999 while maintaining his positions at Renault.
October 1999: Nissan Revival Plan Announcement
Ghosn's "Nissan Revival Plan," revealed in October 1999, aimed to restore profitability by the fiscal year 2000, achieve a profit margin exceeding 4.5% of sales by 2002, and cut the existing debt by half within the same timeframe. Ghosn vowed to resign if these objectives were not met. The plan involved substantial job cuts, plant closures, supplier reductions, and asset sales.
1999: Nissan's Operating Profit Margin
In fiscal year 1999, Nissan's operating profit margin was recorded at 1.4%.
June 2000: Ghosn Becomes President of Nissan
In June 2000, Ghosn was promoted to president of Nissan.
2000: Nissan Returns to Profitability
Nissan achieved a consolidated net profit after tax of $2.7 billion for the fiscal year 2000, marking a significant turnaround from the previous year's loss.
2000: Nissan's Turnaround
Within the first year of the Nissan Revival Plan, Nissan's consolidated net profit after tax rose to $2.7 billion for fiscal year 2000, a significant improvement from a consolidated net loss of $6.46 billion the previous year. In just twelve months, Nissan had returned to profitability, and within three years, it became one of the auto industry's most profitable companies.
June 2001: Ghosn Appointed CEO of Nissan
Ghosn was appointed CEO of Nissan in June 2001. When he joined, Nissan had a significant net automotive debt, and only a few models were profitable, making a turnaround seem improbable.
November 2001: Ghosn's Life Story Adapted into Manga Series
Carlos Ghosn's life story was adapted into a superhero comic book series in Japan titled "The True Story of Carlos Ghosn", beginning in November 2001 in the manga comic book Big Comic Superior.
March 2002: Nissan Revival Plan Success
By March 2002, Nissan had successfully accomplished all the objectives of the Nissan Revival Plan.
March 2002: Nissan Eliminates Net Automotive Debt
By the spring of 2003, Nissan declared that it had successfully eliminated its net automotive debt in the fiscal year 2002.
May 2002: Nissan 180 Plan Unveiled
In May 2002, Ghosn introduced "Nissan 180," a three-year growth strategy for the company, aiming for a one million vehicle increase in global sales, an operating margin of at least 8%, and complete elimination of net automotive debt by specific deadlines.
2002: Nissan Revival Plan Goals Achieved
By 2002, all the targets outlined in the Nissan Revival Plan were successfully achieved ahead of the March 31, 2002, deadline. Notably, Nissan's operating margins surpassed the industry average, reaching over 9%.
2002: Ghosn Manga Series Published as a Book
In 2002, "The True Story of Carlos Ghosn" manga series was published as a book.
2003: Nissan's Operating Profit Margin Soars
Nissan's operating profit margin soared to an impressive 11.1% in the fiscal year 2003, up from a mere 1.4% in 1999.
September 2004: Nissan's Sales Figures Released
Nissan announced that from September 30, 2004, to September 30, 2005, their annual sales surpassed 3.67 million.
May 2005: Ghosn Leads Both Renault and Nissan
Ghosn was appointed CEO of Renault in May 2005. This appointment made him the first person to concurrently lead two Fortune Global 500 companies.
September 2005: Nissan 180 Plan Goals Achieved
By September 2005, Nissan had successfully achieved all of the targets set forth in the Nissan 180 plan.
October 2005: Nissan Announces Sales Milestone
In October 2005, Nissan reported annual sales exceeding 3.67 million vehicles, a significant rise from the 2.6 million sold in the fiscal year ending March 2002.
2005: Kerkorian's Proposed Merger
Billionaire investor Kirk Kerkorian, having acquired a 9.9% stake in General Motors (GM) in 2005, proposed a merger between GM and Renault and Nissan, with Ghosn as the potential chairman of the merged entity.
2005: Purchase of Ghosn's Paris Apartment
Nissan funds were utilized to acquire Ghosn's apartment in Paris in 2005.
2006: Ghosn's Demanding Work Schedule
By 2006, Carlos Ghosn was splitting his time between Paris and Tokyo, traveling extensively for his work, leading him to be dubbed "the hardest-working man in the global car business" and "Seven-Eleven" by media.
2006: Death of Jorge Ghosn
Carlos Ghosn's father, Jorge Ghosn, passed away in 2006.
2006: GM Rejects Merger Proposal
However, GM's management rejected the merger proposal in 2006, leading Kerkorian's Tracinda Corp. to divest most of its GM holdings by the end of the year.
2007: Ghosn Considered as Potential Presidential Candidate in Lebanon
Carlos Ghosn was seen as a potential presidential candidate in Lebanon in 2007, though he ultimately declined any such overtures, stating a lack of political ambitions.
2007: Renault-Nissan Alliance Enters Electric Car Market
Under Ghosn's leadership, Renault-Nissan Alliance made a significant entry into the mass-market zero-emission electric car market in 2007, investing over $5 billion in the endeavor.
October 2008: Personal Swap Contract and Financial Losses
Ghosn engaged in a personal swap contract in October 2008, during the global financial crisis, which would later lead to significant personal financial losses.
2008: Commitment to Zero-Emission Electric Cars
In 2008, Ghosn announced that the Renault-Nissan Alliance would introduce a full lineup of zero-emission electric vehicles globally by 2012.
2008: Visit to Israel
In 2008, during his tenure as chairman of Renault-Nissan, Ghosn visited Israel to engage with the founder of Better Place, a move that would later spark controversy due to the Arab League's boycott of Israel.
2008: Renault's Strategic Partnership with AvtoVAZ
Renault initiated a strategic partnership with AvtoVAZ, a Russian automaker, in 2008 by acquiring a 25% stake in the company.
2009: Advocacy for Zero-Emission Vehicles
In 2009, at the Wharton School of Business, Ghosn emphasized the necessity of zero-emission vehicles, particularly electric cars, for developing countries aiming to increase car ownership while addressing environmental concerns.
2009: Payments to Juffali Company Begin
Starting in 2009, Nissan, under Ghosn's direction, began making payments totaling $14.7 million to a company entirely owned by Sheikh Khaled al-Juffali. These payments were made in installments from a discretionary internal fund called the "CEO Reserve" and were not explicitly documented as benefiting Juffali.
December 2010: Debut of Nissan Leaf
The Nissan Leaf, marketed as the world's first affordable electric car with zero emissions, was launched in December 2010.
2010: Establishment of Zi-A Capital BV
Around the time of Ghosn's divorce from his first wife and the start of his relationship with his second wife, a shell company called Zi-A Capital BV was established in the Netherlands. Nissan's board was instructed by Greg Kelly to set up this company for venture investments.
2010: Implementation of Deferred Payment Plans
To avoid fully disclosing his compensation in Nissan's financial statements, as mandated by Japanese law starting in 2010, Ghosn, with Kelly's assistance, devised intricate deferred payment arrangements. These arrangements, totaling approximately $80 million by the time of his arrest eight years later, were not reported, relying on a liberal interpretation of disclosure rules that lacked approval from Nissan's external auditors.
March 2011: Leadership During Japanese Earthquake and Tsunami Recovery
Ghosn took a prominent role in recovery efforts following the devastating earthquake and tsunami in Japan in March 2011, visiting affected areas like the Iwaki engine plant and inspiring public optimism.
May 2011: Commitment to Japanese Manufacturing
In May 2011, despite the challenges posed by the earthquake and tsunami, Ghosn reaffirmed Nissan's commitment to producing a minimum of 1 million cars and trucks annually in Japan.
June 2011: Ghosn Ranked Highly in Japanese Poll for Potential Leaders
A June 2011 survey by Axa revealed Carlos Ghosn was ranked seventh in a poll asking Japanese people which celebrity they would want to run Japan. Ghosn maintained he had no political aspirations.
June 2012: Appointment to AvtoVAZ Board
In June 2012, Ghosn was appointed as the deputy chairman of the board of directors at AvtoVAZ, a Russian automobile manufacturer.
2012: Completion of Payments to Juffali Company
By 2012, Nissan, under Ghosn's leadership, had completed the transfer of $14.7 million to a company solely owned by Sheikh Khaled al-Juffali. This payment was made in installments from a discretionary internal fund known as the "CEO Reserve." The documentation did not explicitly state that Juffali was the ultimate beneficiary.
2012: Ghosn and Rita Kordahi Divorce
Carlos Ghosn and Rita Kordahi divorced in 2012.
2012: Targeted Launch of Electric Vehicle Lineup
Ghosn had previously announced that Renault-Nissan aimed to have a full lineup of zero-emission electric cars available worldwide by 2012.
2012: Purchase of Rio de Janeiro and Beirut Residences
In 2012, funds from Zi-A Capital BV were used to purchase a $5 million beachfront apartment in Rio de Janeiro and a mansion in Beirut for Ghosn.
June 2013: Chairman of AvtoVAZ
Ghosn assumed the role of chairman at AvtoVAZ, a Russian automaker, in June 2013.
2014: President of the European Automobile Manufacturers Association
Ghosn was elected as the president of the European Automobile Manufacturers Association in both 2014 and 2015.
2014: Nissan Auditors Investigate Zi-A Capital BV
Nissan's compliance auditors initiated attempts to track the activities of Zi-A Capital BV in 2014. However, their efforts were initially hindered by the network of shell companies employed in Zi-A's investments.
2014: Renault-Nissan Alliance Takes Control of AvtoVAZ
The Renault-Nissan Alliance, building on its existing partnership, gained control of the Russian automaker AvtoVAZ in 2014.
2015: End of Term on Banco Itaú Board
Ghosn's tenure on the International Advisory Board of Banco Itaú, a Brazilian bank significantly involved in the privatization of Renault, came to an end in 2015.
2015: Greg Kelly's Semi-Retirement
Greg Kelly, who had been instrumental in handling Ghosn's compensation reporting, took semi-retirement and relocated to the United States in 2015.
May 2016: Ghosn Marries Carole Nahas
In May 2016, Carlos Ghosn married Carole Nahas, a Lebanese-American.
June 2016: End of Chairmanship at AvtoVAZ
Ghosn's tenure as chairman of the Russian car manufacturer AvtoVAZ concluded in June 2016.
October 2016: Nissan Acquires Controlling Stake in Mitsubishi Motors
Nissan completed the acquisition of a controlling 34% stake in Mitsubishi Motors in October 2016. Consequently, Ghosn assumed the role of chairman at Mitsubishi, aiming to steer the company's recovery following a scandal involving fuel economy misrepresentation.
February 2017: Announcement of Stepping Down as Nissan CEO
Ghosn made the announcement in February 2017 that he would be stepping down from his position as CEO of Nissan effective April 1, 2017.
April 2017: Stepping Down as Nissan CEO
Ghosn officially stepped down as CEO of Nissan on April 1, 2017, while maintaining his position as chairman of the company. Hiroto Saikawa took over as CEO.
2017: Renault-Nissan Alliance Leads Electric Vehicle Sales
By 2017, the Renault–Nissan Alliance became the global leader in electric vehicle sales, outselling Tesla by more than double. The Nissan Leaf also emerged as the top-selling electric vehicle worldwide.
2017: Establishment of Nissan-Mitsubishi Joint Venture
In 2017, a Netherlands-based joint venture between Nissan and Mitsubishi was formed, from which Ghosn was later accused of making undisclosed payments to himself.
November 2018: Renault and Nissan Ownership Stakes
As of November 2018, the ownership structure of Renault and Nissan was as follows: Renault held a 43.4% stake in Nissan, while Nissan owned non-voting shares equivalent to 15% of Renault's equity.
November 2018: Arrest and Detention in Japan
Carlos Ghosn's arrest and detention in Japan occurred in November 2018, setting off a chain of events that garnered international attention and scrutiny.
November 2018: Removal as Chairman of Mitsubishi Motors
Following his arrest and subsequent removal from Nissan due to allegations of financial misconduct, the board of Mitsubishi Motors also removed Ghosn from his position as chairman on November 26, 2018.
November 2018: Ghosn's Initial Arrest
Ghosn's legal troubles began in November 2018 when he was first arrested, marking the start of a prolonged legal battle.
December 2018: Ghosn's Re-Arrest and New Charges
On December 21, 2018, Ghosn was arrested again, this time on allegations of transferring personal financial losses of $16.6 million to Nissan. These losses were linked to a personal swap contract from October 2008.
2018: Allegations of Undisclosed Payments
Nissan's investigations revealed that in 2018, Ghosn allegedly paid himself $8 million from a joint venture with Mitsubishi, without the knowledge of either company, adding to his existing charges.
January 2019: Ghosn's First Public Appearance and Bail Rejection
In January 2019, Carlos Ghosn appeared in court proclaiming his innocence against allegations of financial misconduct. However, his request for release on bail was denied.
January 2019: Ghosn's Claims of "Plot and Treason"
In January 2019, Ghosn publicly stated that the charges against him were a "plot and treason" orchestrated by Nissan executives opposing the Renault partnership and a potential merger.
January 2019: Additional Charges Against Ghosn
In January 2019, Ghosn was indicted on further charges of aggravated breach of trust and income understatement, leading to an extended period of imprisonment and delaying his trial.
January 2019: Resignation of José Muñoz and Nissan's Response
In January 2019, José Muñoz, a close ally of Ghosn and potential successor, resigned from Nissan amidst an internal investigation where he was a "person of interest". Consequently, Nissan considered not replacing Ghosn's position and contemplated legal action against him.
January 2019: Ghosn's Resignation from Renault
Initially, the French government and Renault supported Ghosn. However, due to his prolonged imprisonment and concerns over the instability at Renault, they sought a new CEO. Facing pressure from both the French government and the Japanese courts, Ghosn resigned as Chairman and CEO of Renault in January 2019.
January 2019: Ghosn's Bail Appeals and Wife's Advocacy
Throughout January 2019, Ghosn made further attempts to appeal the denial of his bail, even offering stricter conditions. Adding to his case, Ghosn's wife, Carole, wrote a letter to Human Rights Watch protesting his treatment during detainment. Despite their efforts, the Tokyo court denied his bail requests.
February 2019: Change in Ghosn's Legal Representation
In February 2019, Ghosn's lead lawyer, Motonari Otsuru, stepped down, and Jun'ichirō Hironaka, known for his successful track record in high-profile cases, took over.
March 2019: Ghosn Granted Bail
In March 2019, Ghosn was granted bail under strict conditions including restricted movement, 24-hour surveillance, and no internet access after his third request, marking a turning point in his legal battle.
April 2019: Carole Ghosn's Court Hearing
Carole Ghosn, Carlos Ghosn's wife, appeared in court in April 2019 for a hearing that would later lead to suspicions of perjury.
April 2019: Ghosn Released on House Arrest
Following an appeal rejection, Ghosn was released on house arrest in late April 2019 but faced severe restrictions, including a ban on contact with his wife for four months.
April 2019: Ghosn's Rearrest and Public Statement
Ghosn was rearrested in April 2019 for the fourth time, this time on suspicion of financial misconduct related to dealings in Oman, just days after expressing his readiness to reveal the "truth." Ghosn condemned the arrest as "outrageous and arbitrary."
April 2019: Ghosn Removed from Nissan Board and Public Defense
In April 2019, during a shareholders meeting, Nissan voted to remove Ghosn from their board. Ghosn retaliated by releasing a YouTube video proclaiming his innocence and providing explanations for the alleged financial misconducts.
June 2019: Renault Uncovers Questionable Expenses and French Investigation
In June 2019, an internal audit by Renault uncovered €11 million in questionable expenses linked to Ghosn, leading to a separate investigation by French authorities, signaling a widening of the scandal.
August 2019: Carole Ghosn Appeals to French President
As Ghosn's legal situation remained precarious, his wife Carole appealed to French President Emmanuel Macron in August 2019 to intervene on his behalf with Japanese Prime Minister Shinzo Abe during the G7 summit.
September 2019: Ghosn Settles with SEC and Accepts Ban
In a significant development in September 2019, Ghosn reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding charges of underreporting his compensation from Nissan. This agreement resulted in a $1 million fine for Ghosn and a ten-year ban from holding any officer or director positions in publicly traded companies, effectively ending his career as a prominent global business leader.
December 2019: Ghosn's Payment for Escape
Details emerged revealing that Carlos Ghosn paid over $1 million to the Taylors for their assistance in his escape, utilizing bank transfers and bitcoin payments.
December 2019: Escape from Japan
In a daring escape plan, Carlos Ghosn left his residence, traveled to Osaka via bullet train, and boarded a private jet on December 2019, successfully evading Japanese security measures.
2019: Ghosn Flees House Arrest
In 2019, Carlos Ghosn dramatically escaped house arrest in Japan while facing trial for financial misconduct allegations during his time at Nissan.
January 2020: Arrival in Lebanon and Revoked Bail
Following Ghosn's arrival in Lebanon in January 2020, a Tokyo court revoked his bail at the request of Japanese prosecutors. Despite both countries being Interpol members since 1954, the lack of an extradition treaty presented a significant obstacle for Japan.
January 2020: First Press Conference and Travel Ban
In January 2020, Ghosn held a press conference, detailing his imprisonment, proclaiming his innocence, and accusing Nissan executives. He justified his escape as fleeing injustice. Subsequently, Lebanese authorities imposed a travel ban.
January 2020: Arrest Warrant for Carole Ghosn
In January 2020, Ghosn refuted claims of his family's involvement in his escape, but Japanese prosecutors issued an arrest warrant for his wife, Carole Ghosn, on suspicion of perjury related to a court hearing in April 2019.
January 2020: Arrest Warrants Issued
Japanese prosecutors issued arrest warrants on January 2020 alleging that Michael Taylor, a former US Army Special Forces soldier, orchestrated Ghosn's escape with assistance from his son, Peter, and another American, George Zayek.
February 2020: Lawsuit, Fines, and Payment Revelations
Nissan filed a lawsuit against Ghosn for alleged corruption in February 2020, seeking $90 million. Later that month, Japanese regulators fined Nissan for underreporting Ghosn's compensation. By July 2020, reports revealed a significant payment from a Ghosn-linked account to a firm associated with his escape.
July 2020: Payment Linked to Escape
In July 2020, news broke about a substantial payment traced from a Paris bank account connected to Ghosn to a company managed by Michael Taylor, who allegedly played a key role in his escape.
October 2020: US Agrees to Extradite Taylors
In a significant development, the United States agreed in October 2020 to extradite Michael and Peter Taylor to Japan, following their arrest for their alleged role in Ghosn's escape.
November 2020: UN Experts Deem Detention "Fundamentally Unfair"
In November 2020, UN human rights experts concluded that Ghosn's 2018 arrest and detention in Japan were "fundamentally unfair," advocating for compensation and reparations. The panel criticized the prolonged solitary confinement imposed on Ghosn, exceeding the Nelson Mandela Rules' limits.
November 2020: Lebanese Prosecutor's Decision and Nissan's Actions
Lebanon's prosecutor general, in November 2020, chose not to pursue charges against Ghosn for a 2008 visit to Israel due to statute of limitations. This followed calls for prosecution from Lebanese lawyers who viewed the trip as a violation of the Arab League boycott. Concurrently, Nissan dismissed its global general counsel for alleging mishandling of the Ghosn case.
December 2020: French Investigation Announcement
Reports surfaced in December 2020 indicating that French investigators planned to meet with Ghosn in January 2021 as part of an inquiry into expenses handled by a Dutch subsidiary of Renault and Nissan.
2020: Ghosn Becomes Business Coach at USEK
Carlos Ghosn took on the role of a business coach at USEK in 2020.
January 2021: Ghosn's Response to French Investigation
In January 2021, Ghosn addressed the French investigation, questioning its rationale compared to Japan's approach and denying the allegations levied against him.
July 2021: Taylors Sentenced in Japan
A Japanese court handed down sentences to Michael and Peter Taylor in July 2021 for their roles in aiding Ghosn's escape. Michael received a two-year prison term, while Peter was sentenced to 20 months.
April 2022: France Issues International Arrest Warrant for Carlos Ghosn
In April 2022, France issued an international arrest warrant for Carlos Ghosn and four other individuals for allegedly funneling millions of dollars from Renault through Suhail Bahwan Automobiles for Ghosn's personal use, including the purchase of a yacht. Ghosn maintained his innocence and expressed a desire to stand trial to clear his name.
October 2022: Taylors Transferred to US Custody
Following an agreement between the US and Japanese governments, Michael and Peter Taylor were transferred to the United States in October 2022 to serve the remainder of their sentences.
2022: Netflix Releases Documentary on Carlos Ghosn
Netflix released "Fugitive: The Curious Case of Carlos Ghosn" in 2022, a documentary chronicling Ghosn's ascent, the internal conflicts within Nissan-Renault he was involved in, and his arrest.
October 2023: Lebanese Court Rules Against Ghosn in Residence Dispute
In October 2023, a Lebanese court ruled that Carlos Ghosn and his wife must vacate their $19 million residence in Beirut. The lawsuit, filed by Phoinos Investment four years prior, claimed Ghosn occupied the property without legal basis. Ghosn appealed the verdict, stating the company was affiliated with Nissan and that a signed agreement with Nissan granted him residency rights.
2023: Apple TV+ Releases Documentary on Carlos Ghosn
Apple TV+ released a documentary in 2023 titled "Wanted: The Escape of Carlos Ghosn".
February 2024: Charges Filed Against Nissan Workers
February 2024 saw charges brought against four senior Nissan employees accused of stealing documents and electronic devices from Ghosn's residence and office in Beirut.
