Renault-Nissan alliance needs ‘strong’ leadership after Ghosn’s resignation: FM

Paris: French main car manufacturer Renault and its Japanese partner needed “strong, stable governance” after chairman and CEO Carlos Ghosn stepped down due to financial scandal, French Finance Minister Bruno Le Maire said on Thursday.

“The Renault-Nissan alliance needs strong and stable governance to meet the challenges of the dual technological revolution of the automotive industry: that of batteries and electric motors but also that of autonomous vehicles,” Le Maire wrote on Twitter.

“The Renault-Nissan alliance must remain the world’s number 1 and continue to make the pride of its employees,” he added, Xinhua news agency reported.

The minister comments came after Renault appointed Michelin boss Jean-Dominique Senard as its new chairman and Thierry Bollore as chief executive officer, taking over Ghosn who formally resigned on charges of financial misconduct.

“A new page in Renault’s story opens. I wish Jean-Dominique Senard and Thierry Bollore every success (in their mission),” the French minister said.

In November, Japanese car maker Nissan, Renault alliance partner, announced that Ghosn was arrested in Tokyo after an internal inquiry revealed his involvement in financial wrongdoings.

The 64-year-old business leader, indicted charges of misreporting his corporate salary and using the company’s money for his own purposes, saw his requests for release on bail, rejected by Tokyo court, which meant he would remain in prison for longer period.

French state holds 15 per cent of Renault stake.