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Home / Business / New Board wants to reduce tension at Renault, Nissan and Mitsubishi

New Board wants to reduce tension at Renault, Nissan and Mitsubishi



Renault, Nissan and Mitsubishi plan to establish a new leadership structure for the alliance between the three automakers as they seek to stabilize relations shaken by the arrest of Carlos Ghosn.

The architect and former boss of the Alliance, Mr. Ghosn Prior to his arrest in November for financial misconducts at Nissan, he had pushed for a merger to make the agreement "irreversible". This shock created deep tensions between the companies, which together produce more than ten million cars a year.

The new plan for the Alliance provides for the creation of a joint committee, presumably headed by the recently appointed Chairman of Renault, Jean-Claude. Dominique Senard, according to the people who were informed about the matter. It was first reported by Nikkei in Japan.

People close to the company said the new alliance structure would be announced Tuesday at a press conference in Yokohama attended by Mr. Senard and senior executives from all three automakers.

Renault, Nissan and Mitsubishi declined to comment. Meanwhile, lawyers from Mr. Ghosn, who was released on bail by $ 9 million last week after 1

08 days behind bars, on Monday requested permission for the former Nissan chairman to meet the car maker's committee on Tuesday, according to one person Has knowledge of his plans.

Mr. Ghosn, who is still director of Nissan, was released under strict security conditions set by the Tokyo District Court and prohibiting contact with investigators.

Nissan's former boss, who recently resigned as CEO of Renault, has denied all charges of misconduct and called them "worthless."

The alliance's new board would replace the existing Dutch joint ventures between the three automakers – one between Nissan and Renault and one between Nissan and Mitsubishi. The goal is to promote closer integration throughout the Alliance.

Renault-Nissan BV was called into question after the two companies had recently launched a joint investigation for inappropriate payments possibly made by the 50-50 joint venture in Amsterdam led by Mr Ghosn.

In a separate joint investigation by Nissan and Mitsubishi, Ghosn has been charged with receiving € 7.8 million in unlawful payments from its Dutch joint venture, a claim Ghosn has denied.

Mr Senard, the distinguished outgoing boss of tire manufacturer Michelin, was appointed Chairman of Renault in January and was given the task of restoring confidence and strengthening relations between the French company and Nissan.

The alliance is a complicated structure in which Renault owns 43 percent of Nissan, while the Japanese group owns 15 percent of Renault. Nissan also acquired a 34 percent stake in Mitsubishi Motors in 2016

The French state, which holds 15 percent of Renault, wants Senard to be named Nissan's chairman, but the Japanese company is reluctant to have the same chairman On both sides of the Alliance, Mr. Ghosn had played a role before his arrest.


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