Ghosn retains some roles as the Renault-Nissan Alliance looks to recover

12 February 2019

Ghosn retains some roles as the Renault-Nissan Alliance looks to recover

12 February 2019

New Renault CEO Thierry Bollore has been named as chairman of the Renault-Nissan BV holding company that coordinates its alliance.

Renault has also stated that its former CEO, Carlos Ghosn, remains a director of the alliance business. This is despite his resignation last month from the French manufacturer and his ousting from his role as chairman of Nissan over financial irregularities.

In a statement, the carmaker said: ‘In addition to the Board of Directors' communication of January 24, Renault wishes to specify that Mr. Ghosn resigned from his terms of office as Chairman of the Board of Directors and Chief Executive Officer but remains, as of the date hereof, Director of Renault SA.’

‘Mr. Ghosn retains, as of the date hereof, his positions within Alliance Rostec Auto BV and Renault do Brasil,’ the carmaker also said.

Bollore will need to steer Renault-Nissan BV through a period of uncertainty, with the business itself under scrutiny over potential misdeeds committed by Ghosn. The Brazilian is currently incarcerated in Japan, awaiting trial for financial wrongdoing.

Senard visit

Meanwhile, Renault chairman Jean-Dominique Senard is to meet Nissan CEO Hiroto Saikawa in Japan as the two companies look to cement their partnership in the wake of the Ghosn scandal.

Senard, named chairman of the French manufacturer last month, will visit Nissan's headquarters in Yokohama to meet the company's executives and become better acquainted with its Japanese partner.

The Frenchman has taken on the task of overseeing Alliance activities as part of his expanded role. In a release, Renault highlighted his new responsibilities: ‘Renault's Board of Directors wishes to supervise actively the functioning of the Alliance and decides to give its Chairman full responsibility for managing the Alliance on behalf of Renault, in liaison with the Chief Executive Officer.

‘In this capacity, the Chairman of Renault's Board of Directors will be the main contact person for the Japanese partner and the other Alliance partners for any discussion on the Alliance's organisation and evolution. He will propose to the Board of Directors any new Alliance agreement that he considers useful for Renault's future. He will be Renault's main representative in the Alliance's management bodies and at Nissan when Renault has the right of the proposal.’

‘Nissan CEO Hiroto Saikawa is eager to familiarise Senard with Nissan and Alliance operations to optimise their work together,’ the Japanese manufacturer said in a statement.

There has been speculation about the future capital structure of the Renault-Nissan partnership since the arrest of Ghosn, who, it is reported, was looking to push for acquisition of Nissan by the French firm.

Saikawa has argued it is not time to discuss the ideal structure of the alliance although he has said he wants to work closely with Senard, who will likely sit on Nissan's board.