France said to be seeking Renault board meeting to discuss replacing Ghosn
The government had until now supported the company’s decision to keep the CEO in office while he awaits trial in Japan for alleged misconduct
Paris — The French government is moving to dismiss Renault’s scandal-hit chair and CEO Carlos Ghosn and has requested a board meeting to consider candidates to replace him, sources with knowledge of the matter say. France, Renault’s biggest shareholder, had until now supported the company’s decision to keep Ghosn in office while he awaits trial in Japan for alleged misconduct at Nissan, the French carmaker’s alliance partner he also chaired until his dismissal in November. But the government, which commands a 15% Renault stake and two board seats, has asked the company to convene its nominations committee followed by a full board meeting on January 20 to begin the process of appointing one or more successors to Ghosn, according to three people briefed on the process. A spokesperson for Renault and a French finance ministry official both said they have no knowledge of plans for a weekend board meeting. Ghosn’s November 19 arrest in Japan and swift firing by Nissan have deepened tensi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.