21 Nov 18

Renault retains trust in Carlos Ghosn after arrest in Japan

After the arrest of Carlos Ghosn on charges of financial misconduct in Tokyo on Monday, Renault has decided to retain him as chairman and CEO. Nissan, on the other hand, had removed Mr Ghosn from his leadership position within Nissan on the same day.

In view of Mr Ghosn’s absence, and on a strictly temporary basis, Renault has appointed Thierry Bolloré as deputy chief executive.

Mitsubishi, the third partner in the Renault Nissan Mitsubishi alliance, has also expressed it is planning to remove Mr Ghosn as chairman. His position at the helm of Renault and of the alliance does not appear to be at risk at this moment.

Osamu Masuko, a chief executive at Mitsubishi, said on Tuesday he thought the three companies would appoint separate new leaders in the future. “I don’t think there is anyone on earth like Ghosn who could run Renault, Nissan and Mitsubishi,” he told reporters.

This move will raise questions about the future integration of the three alliance partners. On Tuesday, The Financial Times reported that Nissan board members were trying to block a Renault-backed plan to fully merge Nissan and Renault.

Image: Carlos Ghosn

Authored by: Benjamin Uyttebroeck