The French government is pushing automaker Renault to remove its chairman and CEO after he was arrested Monday in Japan on allegations of financial misconduct.
France's finance minister told a local radio outlet Tuesday, "Carlos Ghosn is no longer in a position where he is capable of leading Renault." The French government owns a 15 percent stake in the company.
This all has to do with financial misconduct violations Nissan uncovered as part of an internal investigation into Ghosn, who also serves as its chairman.
The Japanese automaker said Monday that Ghosn had been under-reporting his income and engaging in "personal use of company assets."
On top of leadership positions at Nissan and Renault, Ghosn is also the chairman of Mitsubishi Motors. But he likely won't have a job at any of them before long.
Both Nissan and Misubishi have signaled they plan to remove Ghosn from his posts. Meanwhile, Renault's board is meeting Tuesday to discuss setting up interim management team.
Additional reporting from Newsy affiliate CNN.
