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Renault, Nissan head Ghosn arrested for financial misconduct

Brazilian-born and holding French citizenship, 64-year-old Ghosn was one of the highest-paid executives in Japan, and renowned across the automotive industry for rescuing Nissan from the brink of bankruptcy, just three years after overseeing a similar turnaround in fortunes for Renault, which he joined in 1996.

Renault withdrew from Formula 1 as a full works team in 2010 to become an engine supplier, but returned for 2016 after taking over Lotus.

“Renault had two options: to come back at 100 percent or leave,” Ghosn said at the time. “After a detailed study, I have decided that Renault will be in Formula 1, starting 2016. The final details supplied by F1’s main stakeholders gave us the confidence to accept this new challenge.”

Source: Racer