Carlos Ghosn, the long-time car executive has been accused of ‘significant acts of misconduct’ and removed from his position.

The action is the result of an internal investigation prompted by a whistleblower, and the allegations surround the hiding his personal remuneration and use of corporate assets. Japanese companies are required to disclose the salaries of executives who earn over 100m yen.

Shares in Renault fell by 13 per cent on the news.

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