Nissan Motor shareholders have ousted erstwhile boss Carlos Ghosn as a director, severing his last ties with the company he rescued from near-bankruptcy and from which he is now accused of siphoning funds.
Shareholders, who had gathered for an extraordinary meeting just days after prosecutors again arrested Ghosn in Tokyo, also voted out another director, Greg Kelly, who has also been accused in the scandal.
Both Ghosn and Kelly have denied the allegations against them.
Tokyo prosecutors last week took the highly unusual step of re-arresting Ghosn - who had been out on $US9 million bail - and returning him to the Tokyo detention centre where he had previously spent more than 100 days.
Under the latest allegations, he is accused of trying to enrich himself to the tune of $US5 million at the company's expense.
Ghosn, who was first arrested in November, has been charged with under-reporting his Nissan salary for a decade and of temporarily transferring personal financial losses to Nissan's books.
However, the new allegation is potentially more serious, as it could show that he used company funds for his own purposes.
Shareholders also voted in Renault Chairman Jean-Dominique Senard as a director, another move that was widely expected.
French alliance partner Renault SA owns 43 per cent of Nissan.
"Economic performance and the wellbeing of the people at Nissan will be for me of the highest importance," Senard told the meeting.
"I will constantly suggest the best possible evolutions in the framework of the alliance ... We want to secure the right future for Nissan."
Nissan may also claim damages against Ghosn over alleged financial misconduct, chief executive Hiroto Saikawa said, adding he was not yet ready to give up control of the company as it needed stabilisation.
Saikawa started the meeting by apologising for the inconvenience the scandal had caused, followed by a deep bow.
With AP
