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Renault Names Michelin Exec as Chairman, to Appoint New Nissan Director in April

Renault finally appoint new CEO 1 photo
Renault has officially confirmed on Thursday it will go for a new governance structure, with the roles of chief executive officer and chairman of the board no longer in the hands of the same individual.
According to official statements, Thierry Bolloré will be permanently named CEO and current Michelin head executive Jean-Dominique Senard will take over the role of chairman. Senard will be the one responsible for the relationship with Nissan within the alliance.

After last week it received a visit from a delegation of French officials, Japanese manufacturer Nissan also announced that its future director will be nominated by alliance partner Renault.

The information was revealed in a very brief statement issued by Nissan on Thursday announcing plans to hold an extraordinary shareholders meeting. The exact date of the event has not been set, but Nissan says it plans for it to take place in mid-April 2019.

“Nissan Motor Co., Ltd. today announced that it has begun preparations to hold an extraordinary general meeting of shareholders, targeting mid-April 2019,” the statement reads.

“The agenda is to be limited to the discharge of directors Carlos Ghosn and Greg Kelly, and the appointment of a new director to be nominated by Renault.”

News of the meeting surfaced merely hours after French finance minister Bruno Le Maire revealed that Carlos Ghosn, the man responsible for the disarray both Nissan and Renault find themselves in, has resigned from his positions of responsibility and authority.

Renault, currently led by Thierry Bolloré, the company’s chief operating officer, has tried to make sense of the accusations brought against Carlos Ghosn and has quietly backed its CEO for over two months.

At the intervention of the French government, which owns a 15 percent stake in the European carmaker, Renault apparently folded and chose the easy way by forcing a resignation rather than going for a forced removal, as Nissan did.

It’s not yet clear what the appointment of a Nissan director by the French will mean for the alliance, but rumors about the two coming even closer together are increasing.

press release
 
 
 
 
 

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