Carlos Ghosn “Mo Longer in A Position to Lead” Renault

For Renault, “it takes interim governance,” said the Minister of Economy on France Info, the day after the arrest of the CEO in Tokyo, accused of malpractice by the Japanese justice. Asked about a possible tax side of French , the Minister assured: “Nothing special to report on the tax situation” of the CEO of Renault and Renault-Nissan in France.

Renault will meet Tuesday evening its board to discuss a temporary replacement of the CEO Carlos Ghosn as long as he remains incarcerated in Japan because of accusations of tax evasion, told media. A spokesman for the diamond group confirmed that the council would meet Tuesday in the evening, without further details on the agenda.

The Minister of the Economy and Finance, Bruno Le Maire, said for his part that he would meet in the morning the referent administrator Philippe Lagayette and representatives of the State on the board of directors, and he had called for the establishment of interim governance.

Carlos Ghosn “is no longer in a position to lead the group,” he said on Franceinfo. “On the other hand, we are not going to ask for the formal departure of Mr. Ghosn from the board for a reason that is simple, we have no evidence and we are in a state of law.”

The French State is Renault’s largest shareholder with 15.01% of the capital.

Nissan announced Monday its intention to oust Carlos Ghosn from his position as chairman of the board by accusing him of concealing a significant portion of his compensation and using Nissan funds for personal gain . This spectacular initiative, which feeds the questions about the future of the alliance founded in 2002 with Renault, resulted in the same day a fall of more than 8% of the stock on the Paris Stock Exchange.

This decline continues in the first trading Tuesday, the action of the French group still losing -3.2509% to 10:39.

Mitsubishi, the third partner of the Franco-Japanese alliance, followed suit with Nissan and asked in turn Monday the ouster of Carlos Ghosn, who remained Tuesday incarcerated in Japan for the second day in a row.

The tax situation of Ghosn? “Nothing to report,” says Le Maire

Asked about a possible French aspect of the Ghosn case, Bruno Le Maire added that there was “nothing special to report on the tax situation” of the CEO of Renault and Renault-Nissan in France.

According to BFM Business, the interim leadership that will be in place by the end of the week will dissociate the function of CEO. Thierry Bollore, the group’s current deputy chief executive officer, is expected to take over the interim management, while the chairmanship of an independent director, such as Patrick Thomas, former Hermes boss and chairman of the nomination and governance committee on the board of directors, could become president. ‘administration.

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