Renault strips Ghosn loyalist of executive role

Galtero Lara
Марта 15, 2019

Nissan, for its part, is planning to oust Ghosn as a board member at an extraordinary shareholders' meeting slated to be held on April 8.

Renault SA and Mitsubishi Motors Corp. announced Tuesday that they will be reorganizing their partnership and make a new internal body to oversee their alliance following the arrest of ex-chairman Carlos Ghosn for financial misconduct.

Renault chairman Jean-Dominique Senard will lead the new committee, while the chief executives of all three firms will also sit on the board. He has indicated that he is prepared to fight to prove his innocence in court.

Arun Bajaj, the alliance's senior VP for human resources, exited Nissan as of March 11 after a leave of absence, the Yokohama, Japanbased carmaker said in a statement yesterday.

The notice did not give specifics, but sources familiar with the investigation have pointed to fancy homes in Lebanon and Brazil, as well as expensive furnishings such as a chandelier.

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Renault has sidelined a senior executive close to Carlos Ghosn, as the French auto maker and its Japanese affiliate Nissan continue to overhaul management in the wake of the financial scandal engulfing their former chairman. In Japan, preparations can take months.

Ghosn was released on $9m (£6.8m) bail last week after spending more than 100 days in a Tokyo detention centre. He has been let out on bail under conditions that he should remain in Japan and should not destroy evidence.

"The event space at Versailles was made available to him without charge, and Mr Ghosn was unaware that the use of the space would be charged against Renault's allotted usage", his French-based lawyer Jean-Yves Leborgne said in February when the allegations came to light, adding that Ghosn had paid for all of his wedding expenses.

It is unclear whether he will try to attend next month's shareholders meeting. The court apparently saw his coming in contact with other Nissan officials as a risk.

Senard, also chief executive at French tire giant Michelin, took Ghosn's place as Renault chairman after Ghosn resigned following his arrest. Nissan said Ghosn wielded too much power, creating a lack of oversight and corporate governance. This has always been an issue for Nissan executives, who believe the larger Japanese automaker shouldn't be controlled by the small European brand. Before his arrest in November, Ghosn had been chairman of all three individual companies while also leading the alliance.

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