Nissan Motor Co (7201.T) aims to nominate a new chairman within a month or two, hopefully before its next board meeting slated for around December 20, a source familiar with the matter said, after the automaker ousted Carlos Ghosn as chairman on Thursday.
Prosecutors allege that he and another Nissan director, Greg Kelly, collaborated to understate Ghosn's income by about 5 billion yen ($44 million) over a five-year period ending in March 2015.
The decision was taken after the board of directors met to discuss the issue.
The head of the Alliance Renault-Nissan-Mitsubishi-Carlos Ghosn, arrested by the Tokyo district public Prosecutor on November 19 at the Haneda airport, shortly after landing.
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Improving the system of management and control remuneration of the management company will be engaged specially created Advisory Committee of three independent Directors, chaired by Masakazu You.
His ouster is an astonishing turnaround for a titan of the auto sector who revived the Japanese brand and forged an alliance with France's Renault as well as domestic rival Mitsubishi Motors, which sold a combined 10.6 million cars previous year - more than any other firm.
A Renault shareholder filed a complaint Wednesday in Paris for "abuse of social good" and "dissemination of false information to the market", two days after the arrest in Japan of the boss of the group, Carlos Ghosn, who is suspected of financial malfeasance, his lawyer said to AFP. Reports suggest he was now looking to merge Renault and Nissan to strengthen the partnership.
Kelly has also been arrested by Tokyo prosecutors after being accused of wrongdoing by the company. In the case of proof of guilt of the Gun could face up to 10 years in prison.
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Together Nissan, Renault and Mitsubishi make one of every nine cars sold around the world. Nissan did not immediately name an interim chairman.
The Brazilian-born French tycoon is now in a Tokyo jail awaiting charges.
Reuters was not able to contact them. Renault owns a 43 percent voting stake in Nissan, which owns 15 percent of Renault - and no voting rights.
Speaking to The Associated Press, Le Maire said "this turbulence shouldn't weaken" the Renault-Nissan alliance or its hundreds of thousands of jobs.
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Analysts say the costs of the alliance failing would be huge. Ghosn presided over the company for about one year.