Renault won’t follow Nissan in ousting arrested chairman as its internal investigation finds no wrongdoing
13 December 2018

Renault’s board has voted to keep Carlos Ghosn as its CEO and chairman after an internal investigation found no wrongdoing or illegal activity with regards to his pay. 

The move comes less than a week after Ghosn, who was removed from his role as Nissan director and chair, was formally charged by Japanese prosecutors for financial misconduct. He stands accused of under-reporting his income by around £34 million over five years, and misusing Nissan company assets.

Following a board meeting on Thursday, Renault revealed that preliminary conclusions of an ongoing investigation suggested that Ghosn’s compensation approval was “in compliance with applicable law” and that it would “maintain the current governance measures”. Day-to-day running of the company was handed to COO Thierry Bollore in November.

Renault, along with the stakeholding French government, has previously claimed that Nissan denied the firm access to more detailed allegations against Ghosn. The revelations are reported to have created a rift between the two firms, which are also in alliance with Mitsubishi.

Ghosn joined Renault in 1996 and was named COO of Nissan in 1999, after the French firm bought a major stake in its Japanese rival. Nissan CEO Hiroto Saikawa has since suggested the concentration of power within the alliance will not be repeated. He said: “In the future, we will make sure we don’t rely on a specific individual.”

Read more:

Taking stock of Nissan's claims about Carlos Ghosn

Dacia set to drop Renault badge

Find an Autocar car review

Driven this week

Join the debate

Comments
6

13 December 2018

If he is prosecuted in Japan, how will this be tenable? It seems like a complete breakdown in trust between Renault and Nissan.

13 December 2018

The Japanese have a track record of this sort of scheming. Anyone remember the British CEO of Olympus who they framed when he tried to expose the company's financial shenanigans?

13 December 2018

The Japanese have a track record of this sort of scheming. Anyone remember the British CEO of Olympus who they framed when he tried to expose the company's financial shenanigans?

13 December 2018

It is good to see Renault apply due process rather than rush to execution.

Yes, Japanese corporations have a long history of covering things up. I think they have a blame culture. Lets see if they come out of all of this smelling of blossom.

14 December 2018

The Frech are already looking for a new CEO, to avoid vacancy.

 Is this supposed to be the Phaeton " successor "?

19 January 2019

 Thanks for sharing the information. Keep the good work going.  AndroVid    live nettv   CShare

 

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week