Nissan shareholders voted on Monday to remove the former chairman Carlos Ghosn from the company's board, replacing him with Renault chairman Jean-Dominique Senard.
In a meeting held in Tokyo, around 4200 shareholders also sacked Ghosn’s right hand, U.S. executive Greg Kelly, who is also facing charges in Japan.
"Nissan expresses its deepest regret for any concern caused by the misconduct to our shareholders. We have to admit that there was a significant problem with our corporate governance," Nissan CEO Hiroto Saikawa said during the meeting.
Ghosn was re-arrested in Tokyo last week while out on bail pending trial over claims of financial misconduct.