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FILE PHOTO: Jean-Dominique Senard, President and CEO of Michelin tire manufacturer, was seen at the Paris Auto Show, Paris, France, October 3, 2018. REUTERS / Regis Duvignau / Pool
PARIS (Reuters) – Michelin (MICP.PA) General Manager Jean-Dominique Senard could be a good choice to lead the car manufacturer Renault (RENA.PA), Said the French Finance Minister, Bruno Le Maire, in an interview with the newspaper published Sunday.
Renault is on the verge of finding a replacement for Carlos Ghosn, who is currently on remand in Japan for alleged financial misconduct because of his role at Renault's sister car manufacturer, Nissan (7201.T). Ghosn denies the accusations.
Asked about Mr. Senard's replacement of Mr. Ghosn, Mr. Le Maire told the French newspaper du Journal du Dimanche: "It is up to the Board of Directors to examine the proposals submitted to it by the Nominating Committee. "
"The French State, as a shareholder, will have a say. What I can tell you is that Jean-Dominique Senard has recognized expertise in the automotive industry, "said Le Maire.
"At Michelin, he has shown his ability to succeed at the head of a large industrial company and he has an idea of the social responsibilities of a company to which I am firmly attached," added Le Mayor in the # 39; interview.
The Mayor said that any possible change in the ownership structure between Renault and Nissan was "not on the table".
The French State holds a 15% stake in Renault, which in turn holds a 43.4% stake in Nissan. Nissan holds a 15% stake in Renault.
Report by Sudip Kar-Gupta; edited by Jason Neely
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