Ghosn loses £27m golden parachute

OUSTED Nissan and Renault boss Carlos Ghosn is to lose a £27m golden parachute as he awaits trial for alleged corruption.

Ghosn will miss out on bonus shares worth £23m from Renault, which were subject to his presence at the company, and a £4m severance payment which was unanimously voted down by the Renault board.

The 64-year-old was forced out of the chief executive and chairman roles at Renault after he was arrested in November for alleged financial misconduct at its partner company Nissan.

It came as Ghosn’s chief defence lawyer Motonari Otsuru resigned without explanation. A new legal team has been appointed.

Ghosn has been held in a Japanese prison for almost three months after being charged over claims that he secretly took millions of pounds in extra pay.

He denies all the charges against him.