Nissan moved to oust long-serving boss Carlos Ghosn after accusing him of misleading investors about the size of his salary and misusing company assets for personal gain, marking an abrupt downfall of one of the automotive industry’s most feted executives.

The Japanese carmaker said Mr Ghosn had been arrested by Tokyo prosecutors on Monday after a whistleblower complaint uncovered numerous “significant acts of misconduct”, adding that the company’s board would seek to remove him as chairman at a meeting on Thursday.