Nissan Motor says it plans to oust its chairman Carlos Ghosn for financial misconduct. An investigation found that Ghosn under-reported his compensation over the years. Ghosn was arrested today after the company’s internal investigation showed gross financial misrepresentation and misconduct.

Ghosn was reportedly arrested over suspected breaches of Japan’s financial trading laws.

Nissan Chairman Ghosn was arrested, and the auto maker said it intended to oust him from his post after uncovering "significant acts" of financial misconduct https://t.co/ZTojQhascA

— The Wall Street Journal (@WSJ) November 19, 2018

Renault shares fall as much as 12% to lowest since 2014 after reports Carlos Ghosn will be arrested https://t.co/t33Cp97htA pic.twitter.com/0OF9LX1yHn

— Bloomberg (@business) November 19, 2018