Nissan and Renault break up chairmanship after Ghosn’s ouster
Nissan and Renault are ‘retooling’ their alliance, noting that former Nissan chair Carlos Ghosn ‘wielded too much power’
Yokohama — Japan’s Nissan Motor and France’s Renault said they will retool the world’s top car-making alliance to put themselves on more equal footing, breaking up the all-powerful chairmanship previously wielded by ousted boss Carlos Ghosn. The removal of Ghosn, credited for rescuing Nissan from near-bankruptcy in 1999, had caused much uncertainty about the future of the alliance and some speculation that the partnership could even unravel. The companies, together with junior ally Mitsubishi Motors said on Tuesday that the chair of Renault will serve as the head of the alliance but — in a critical sign of the rebalancing — not as chair of Nissan. Nissan has said that Ghosn wielded too much power, creating a lack of oversight and corporate governance. It is not clear who will become Nissan’s chair, vacant since Ghosn was arrested in Japan in November. However, the car makers gave no indication of any immediate change in their cross-shareholding agreement, one which has given smaller...
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