Renault Shuffles Upper Management Ranks

Renault made a surprising announcement today, confirming rumors claiming that Louis Schweitzer, Chairman of the Board of Directors, would not renew his current contract. Well, it appears the speculations were actually true as the French manufacturer today said that Carlos Ghosn “would be named Chairman and Chief Executive Officer and additionally to his current functions, he will become Chairman of the Board of Directors.”

“It will be proposed to the Board of Directors to present at the Annual General Shareholders Meeting the appointment of an independent Director with a broad international experience. This nomination would increase the number of independent Directors among the Board,” Renault said in a statement released to the press.

Carlos Ghosn joined Renault in 1996 as Executive Vice President and had several tasks, including advanced research, car manufacturing process, powertrain operations, car engineering and development and technology purchasing. Although he was hired as Co-Chairman, President and CEO of Nissan, Ghosn was named President and CEO of Renault in May 2005.

On the other hand, Louis Schweitzer joined Renault senior management in 1986 and, after only three years, he became the Executive Vice President. One year later, he was promoted to Chief Operating Officer while in 1992 he finally became Renault's Chairman and Chief Executive Officer. Beside all of these, Schweitzer was also President of the Renault-Nissan Alliance Board from May 2002 to April 2005.

“At the meeting, the Board members expressed their appreciation to Louis Schweitzer for his work during the 17 years first as Chairman and Chief Executive Officer of Renault until 2005 and then as the non executive Chairman of the Board,” Renault mentioned in the conclusion of the statement.