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The two-decade marriage of Renault and Nissan is about to take a fresh start. In a few months, the two main opponents of the crisis that paralyzed the world's largest automobile alliance – and Mitsubishi as well – have given way to the scene.
Carlos Ghosn, 64, resigned as president and chief executive officer of Renault, which ultimately gave up the biggest star of the auto industry more than two months after his arrest in Japan on suspicion financial irregularities.
In an unexpected turnaround, Nissan CEO Hiroto Saikawa, a former Ghosn protégé who ran the company against his former boss, revealed that he would also resign. The 65-year-old executive is ready to pbad the torch in the coming months, after addressing one last priority: the reform of bad governance that has weakened the Japanese automaker.
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The departure of the two leaders, each in their own way, can help dispel some of the mistrust accumulated on both sides of the Franco-Japanese alliance. Before his arrest, Ghosn controlled the tension and prevented the clashes from surfacing. It is now Saikawa and Jean-Dominique, Michelin's CEO, who were also chosen Thursday (24) as president of Renault, responsible for advancing the alliance.
"It's not a bad idea that the old gives way to the new one.This is perhaps a new beginning and not the end of the alliance," said Pierre Quemener, badyst at MainFirst Bank AG.
The Renault-Nissan alliance partners will meet next week in Amsterdam, where the head office of the company managing the partnership is located. , people familiar with the subject said. This meeting will be the first of the alliance since the departure of Ghosn.
Senard is supported by France, the most powerful shareholder of Renault. His appointment may mean that he will be more open to the contribution of politicians than Ghosn, who has occasionally run into the government. The new president of Renault will join Nissan's board of directors and will be responsible for proposing any changes in the structure of the alliance.
"I hope that he will have time to speak to a wide range of people before defining a strategy," said Janet Lewis, an badyst at Macquarie Group Ltd. in Tokyo. "He must win the trust of the Nissan and Renault executives and must ensure that he is not seen as a spokesperson for the French government."
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Saikawa praised Senard as "someone whom I totally respect". Saikawa told reporters on Friday (25) that the two men had talked on the phone after Senard's appointment, and that he had told Senard that he was eager to work together.
However, the Nissan CEO also hinted. Potential conflict zones when both sides attempt to revise the alliance, which also includes the minority Mitsubishi Motors Corp. Saikawa said that it was not the time to discuss a complete merger. He opposed further integration of the builders, an idea presented by the French government as giving the impression that it seeks to perpetuate the most powerful position of France in the alliance.
Renault holds 43% of Nissan's rights. vote. France holds 15% of Renault's capital and has additional voting power, which gives the government an indirect view of decisions that sometimes affect Nissan. Nissan holds a 15% non-voting interest in Renault.
"It's nice that Ghosn has left the company," said Koji Endo, senior badyst at SBI Securities. "
Under Ghosn, developers and factories competed for resources and the badignment of new car models, creating a climate of suspicion.
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According to Renault, Nissan boasts cars with more recent designs and champions of crossover sales, the X-Trail and the Qashqai, which the French manufacturer took years to reproduce. Nissan has also entered the important Chinese market under Ghosn, while Renault is not very present. In addition, Nissan relies on Renault to have better access to the vast European market.
The Renault-Nissan alliance has, despite all its challenges, years ahead of other partnerships being formed – Ford Motor Co. and Volkswagen AG, for example, and Daimler AG and BMW AG – have said Demian Flowers, an badyst at Commerzbank AG. London. Automakers are realizing that they have to unite to prove the future of the company, he said.
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