"This is serious misconduct." Saikawa said three major types of misconduct were found: underreporting income to financial authorities, using investment funds for personal gain and illicit use of company expenses. Nissan President and Chief Executive Officer Hiroto Saikawa bows as he leaves the venue after a press conference announcing Carlos Ghosn was arrested. Photo / AP He said that because of the continuing investigation, he could not disclose many details. But he promised to tighten internal controls, saying the problems may have happened because too much power was concentrated in one person. Advertisement Advertise with NZME. "We need to really look back at what happened, take it seriously and take fundamental countermeasures," he said. Ghosn officially still leads the Renault-Nissan-Mitsubishi alliance as CEO and chairman. But experts said it is unlikely he will be able to stay on there or at Renault, where he is also CEO. Renault said its board will hold an emergency meeting soon.