Unlike Ghosn, Nissan Can’t Escape Its Problems
The real mission impossible is turning around a carmaker that’s still losing credibility. It’s a long road back.
Nissan’s problems aren’t Ghosn.
Photographer: Katsumi Kasahara/Gamma-Rapho/Getty Images
The Houdini-esque escape by Carlos Ghosn from his court-monitored Tokyo residence may be shrouded in intrigue, but one thing has been left in plain sight: A turnaround at Nissan Motor Co. won’t happen any time soon. Whatever he has to say from his refuge in Lebanon will be largely inconsequential for the Japanese car company.
Nissan is in a state of disrepair, and was so even before its globe-trotting former chairman (and ex-chief executive of Renault SA) was dethroned over a year ago amid allegations that included underreporting his income in securities filings and making personal use of company assets. He has denied wrongdoing.