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LONDON (Kyodo) – Renault SA has announced its intention to block the proposed governance reform proposed by its alliance partner Nissan Motor Co., fearing that these measures will reduce the influence of the French manufacturer, reported Sunday. the Financial Times and other media.
Renault President Jean-Dominique Senard informed Nissan CEO Hiroto Saikawa in a letter dated Saturday that the French group would refrain during the June 25 shareholder vote on the draft deal. set up a system of three committees to oversee appointments, remuneration and audit. I said.
The approval of Renault, which holds 43.7% of Nissan's capital, is crucial for the Japanese company to obtain the two-thirds majority needed for the success of the proposal. Nissan was working on the planned change for months after the arrest last November of former President Carlos Ghosn for alleged financial misconduct.
This decision comes after Fiat Chrysler Automobiles NV waived last week's proposed merger with Renault after two Nissan members sent him their decision to make a merger plan decision at a meeting of the board. of the French manufacturer.
Ghosn, who previously headed the Franco-Japanese alliance that also involves Mitsubishi Motors Corp., is widely seen as aiming to integrate the activities of Renault and Nissan despite the latter's opposition.
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