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French Government Wants Carlos Ghosn Out of Renault

When the Nissan - Carlos Ghosn scandal broke out back in November, French carmaker and Nissan’s alliance partner Renault decided to stick by its leader and put his position as chairman and chief executive officer on hold.
Renault set to replace Carlos Ghosn 1 photo
At the time, Renault said that until the investigation into Ghosn concluded he would be temporarily replaced by Thierry Bolloré, the company’s chief operating officer

To this day, Renault has not changed its mind, but it is currently under increasing pressure to drop its support for Ghosn in light of a series of new accusations brought against him.

A group of French government officials arrived in Japan this week, trying together with Nissan to figure out ways to remove the Brazilian-born executive from Renault's payroll.

Over the next few days the French state, as holder of a 15 percent stake in the carmaker, intends to call for a board meeting to announce the change in leadership.

"The state as a shareholder wants a board meeting to be called in the coming days and the designation of a new stable and sustainable governance,” French finance minister Bruno Le Maire was quoted as saying in an interview with French television LCI by Sky News.

"I always indicated, while reiterating the presumption of Carlos Ghosn's innocence, that if he were durably prevented [from his role], we would move to the next stage. We're there now."

With the French now decided to make a move, Nissan made a new accusation against Ghosn on Friday.

The Japanese say the executive, his alleged partner in crime Greg Kelly and “others” used a Netherlands-based joint venture with Mitsubishi to dodge compensation payment rules and illegally received a 7.8 million EUR ($8.9 million) payment.

Ghosn has been in jail since November and could stay there for a period of up to ten years if he is found guilty of financial misconduct.

 
 
 
 
 

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