Mixed Emotions

Carlos Ghosn, CEO of Renault and former  Chairman at Nissan, has been released from jail after 108 days.

He has been charged with tax evasion and embezzlement.

I like the idea that a rich executive is being like the rest of us (good), but I have not doubt that if Ghosn were Japanese, he would have been released on bail about 107 days sooner: (bad)

The former motoring titan Carlos Ghosn extricated himself from custody Wednesday after 108 days in jail.

The Brazil-born former CEO of Renault and chairman of Nissan Motors paid one of the largest bail fees in the history of Japan — 1 billion yen, or $8.9 million — to leave jail in Tokyo.

Flanked by security figures, Ghosn emerged from the jail wearing blue workman's clothes, a baseball cap, and a face mask as he headed to his new home, a court-approved house in Tokyo.

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Ghosn's experience has been a humiliating one for a former CEO who commanded immense respect in the auto world. Ghosn in November was accused of misreporting his salary and compensation having previously held top positions at the Nissan-Renault-Mitsubishi Motors automotive alliance.

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Prosecutors in Japan have alleged that the Renault-Nissan-Mitsubishi Alliance chairman and CEO earned a salary of about 10 billion yen, or $88.7 million, from 2011 to 2015 but reported only half of that. Ghosn could face up to 10 years in prison and a fine of up to 10 million yen if found to have committed any wrongdoing.

The whole story is like watching your mother-in-law drive off a cliff in your brand new car.