On the same day, Nissan chief executive Hiroto Saikawa announced at a press conference that Ghosn had been dismissed from Nissan's board and would be stripped of executive rights at a meeting to be held on 22 November. Saikawa stressed that the dismissal was the result of an internal inquiry by Nissan, and alleged that Ghosn and Kelly had under-reported their compensation (a violation of securities law) and used company assets for personal use. While the allegations remained unproven in court, with due legal process pending, at the same news conference, Saikawa "expressed disappointment, indignation, and despair at Ghosn's conduct, which included using company funds for personal investments and misusing corporate assets" and also said, "This is an act that cannot be tolerated by the company... It is sufficient grounds for his dismissal."