Ghosn resigns as Renault appoint two new chiefs

Renault appoints two auto executives, as Carlos Ghosn resigns from his position as CEO, two months after his arrest.

Ghosn resigns as Renault appoints new chiefs Source: Bloomberg

Renault named Thierry Bollore as chief executive, while Jean-Dominique Senard has been named chairman.

Mr Bollore has been running Renault since Ghosn was arrested in November, while Mr. Senard, CEO of tyre giant Michelin, was widley expected to take the chairman position.

Nissan welcomed the announcement, expressing hope for a "new chapter" in ties between the partners.

Nissan chief Hiroto Saikawa also welcomed the change.

‘This is a big milestone that we are reaching,’ Nissan CEO Hiroto Saikawa told reporters in Tokyo

Mr. Senard faces the task of repairing relations between Renault and Nissan and resuming talks on a new alliance structure to secure the decade-old partnership.

'It's important that this alliance remain extremely strong,' Mr. Senard told reporters after a board meeting.

Renault, Nissan, Mitsubishi alliance

Ghosn’s arrest raised questions about the future alliance between Renault, Nissan and Mitsubishi, prompting Mr. Senard to reassure investors.

On Thursday he assured investors that the Renault-Nissan-Mitsubishi alliance was top priority, calling it "absolutely essential."

Ghosn had previously been sacked as chairman of Mitsubishi and Nissan, after being charged for under-reporting his income by tens of thousands of dollars.

Nissan accused Goshn of under-reporting his salary and ousted him as chairman in November.

While Ghosn remained in jail, the past two months have seen tensions deepene as Renault and the French government stuck by Ghosn, despite the allegations.

Ghosn was charged with failing to disclose more than $80 million in additional compensation for 2010-18, along with Nissan director Greg Kelly.

Both men have denied the deferred pay was illegal or required disclosure. Ghosn has had his bail appeals rejected twice, and awaits trial in a Japanese prison.

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