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Mitsubishi Motors Ousts Carlos Ghosn As Chairman

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Mitsubishi Motors Ousts Carlos Ghosn As Chairman
He was arrested in Japan last week over allegations of financial misconduct.
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Carlos Ghosn is now out of a job at Mitsubishi Motors. 

The Japanese automaker announced that its board of directors voted Monday to remove Ghosn as chairman. He was arrested in Japan last week over allegations of financial misconduct.

Those violations were uncovered by Nissan, which said it discovered that Ghosn had been under-reporting his income and engaging in "personal use of company assets." Nissan's board similarly removed Ghosn as its chairman Thursday.

NHK, a Japanese media outlet, reported over the weekend that Ghosn denied the allegations to prosecutors. He's reportedly still being detained as of Monday.

Ghosn has managed to hang on to his leadership positions at Renault for now. But the French carmaker appointed other people to temporarily take over his day-to-day duties.

Additional reporting from Newsy affiliate CNN.