Industry/Official

Ghosn will remain Chairman and CEO of Renault

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The Board of Directors at Renault have decided to keep Carlos Ghosn as Chairman and Chief Executive Officer, as they’re “unable to comment on the evidence seemingly gathered against Ghosn by Nissan and the Japanese judicial authorities”.

The Board of Directors have also appointed Thierry Bolloré as Deputy Chief Executive Officer on a temporary basis, and have given him the same powers as Ghosn to lead the management team. During this period, the Board will meet on a regular basis under the chairmanship of the lead independent director to protect the interests of Renault and the Alliance.

Furthermore, the Board have decided to request Nissan, on the basis of transparency, trust and mutual respect set forth in the Alliance Charter, to provide all information on the internal investigations related to Ghosn.

In case you missed the story, Ghosn was accused of under-reporting his earnings and misusing Nissan’s assets for personal purpose. More on that here. Nissan’s board have now dismissed Ghosn’s positions at the company.

Mitsubishi too isn’t happy about what is happening, but Ghosn still holds the Chairman position.

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