Nissan chairman Carlos Ghosn has been arrested over claims of financial misconduct and alleged corruption.
Ghosn will be sacked from the Japanese firm after a board meeting as he has been accused of “significant acts of misconduct”, including under-reporting his pay package and personal use of company assets.
Japanese prosecutors have yet to comment on Mr Ghosn’s arrest. Nissan is the world’s sixth-largest carmaker and its site in Sunderland is the UK’s biggest car plant.
“I feel despair, indignation and resentment. As the details are disclosed I believe that people will feel the same way as I feel today,” said Nissan chief executive Hiroto Saikawa at a news conference.