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Thursday January 17th, 2019 10:37PM

Renault: Ethics experts say pay to top execs is fraud-free

By The Associated Press

PARIS (AP) — Renault ethics officials have concluded that financial compensation to members of the French automaker's executive committee in 2017 and 2018 was fraud-free.

The review was initiated after Renault chief Carlos Ghosn was fired as head of Japan's Nissan and jailed in Tokyo on fraud charges in mid-November.

Ghosn remains CEO of Renault and says he's innocent in the Japanese case. Prosecutors allege he underreported his income over five years through 2015.

The company issued a statement on the findings after a board of directors' meeting on Thursday meeting.

Without mentioning Ghosn, the statement said internal experts assisted by independent outside experts found that executive committee compensation complied with laws and been "free from any fraud."

Compensation during previous is expected to come under review.

  • Associated Categories: Associated Press (AP), AP World News, AP Business, AP Business - Corporate News
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