Ghosn case: France refuses automobile alliance change

Following the fall of car manager Carlos Ghosn in Japan, France retains electricity distribution in the car alliance between Renault and Nissan. "The CEO of Renault must remain president of the Alliance," today asked the Minister of Finance, Bruno Mayor, to the transmitter LCI. He does not want changes in the distribution of power. His word has its weight in Paris because the French State holds 15% of the capital of Renault.

Ghosn was arrested in Tokyo on November 19 for breaking the rules of the Japanese stock market. On Thursday, the US president dismissed the 64-year-old chairman of Nissan's board of directors, who was fired yesterday by Mitsubishi Motors. Renault participates for 43.4% of Nissan, the Japanese for 34% for Mitsubishi. Nissan in turn holds a 15% stake in the French automaker, but does not have any voting rights.

Renault had already given provisional leadership last week. The Mayor had said Ghosn was currently unable to run the company. Chief Executive Thierry Bolloré temporarily takes over the role of Chief, but Ghosn remains officially President and Chief Executive Officer. According to some information, the original Brazilian, but Renault, should not be permanently at the top of the hierarchy if the accusations against him were to be proven.