Automakers Nissan, Mistubishi and Renault will not appoint a new interim chairman to replace Carlos Ghosn, who was arrested after accusations of fraud.
Ghosn was the leader of the alliance between the three manufacturers and Chairman of the Board for each of them. According to reports, he has been accused of under reporting company income to regulators. Ghosn was removed from his position as board chairman by Mitsubishi and Nissan, but Renault has not. Officials from Mitsubishi have announced the alliance would switch to a new system where the group will be led by a representative from each company.
Ghosn was arrested in Japan, where he is currently being held. Prosecutors in Tokyo are planning on detaining him for another week, at which point they must formally charge him with a crime.