Carlos Ghosn Claimed He Cut His Salary Because Of Public Opinion

Carlos Ghosn Claimed He Cut His Salary To Preserve Nissan Employee Motivation
Simon Dawson/Bloomberg

Statements read out during the trial of the former Nissan Motor Co. director, Greg Kelly, revealed that Carlos Ghosn had stated that he had cut his salary because of public opinion.

During Kelly’s trial last Tuesday, a testimony of Ghosn‘s that dates back to late 2018 – when the former Nissan chairman was detained in Japan and being questioned by prosecutors – was read aloud in court by Kelly’s attorney.

“The reason I cut my salary was because of public opinion, and to preserve the motivation of Nissan employees,” Ghosn was quoted as saying.

On Wednesday, Greg Kelly, who is accused of helping Carlos Ghosn understate his pay by $87 million, testified in a court in Tokyo for the first time.

He has denied all charges, as has Ghosn, and argued during his testimony that he had acted in Nissan’s interest in working to keep Ghosn from leaving Nissan for a competitor, adding that the carmaker was “fortunate to have a CEO as talented as Mr. Ghosn.”

“I and other executives believed that after Mr. Ghosn reduced his salary, well below that of other global executives, Mr. Ghosn was a retention risk,” Kelly said during the court session, denying that he had been involved in a conspiracy to boost Ghosn’s pay.

While Kelly stands trial, Carlos Ghosn remains in Lebanon, to which he fled in 2019 with the alleged help of former U.S. Green Beret Michael Taylor and his son, Peter, both of whom are set to be tried in Japan.

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