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PARIS – When Jean-Dominique Senard took the reins of Renault five months ago, his job was mainly to restore confidence with Nissan after the arrest of Carlos Ghosn, who had formed the alliance of two decades car manufacturers.
Instead, Senard lobbied Nissan for a merger he did not want, and then reached a mega deal with Fiat Chrysler Automobiles without informing the Japanese company. These discussions have now resulted in a fierceness between FCA and France, the most powerful shareholder of Renault, after Nissan refused to explicitly support the agreement.
The turbulence of his brief term seems to contradict Senard's profile as a builder of methodical consensus capable of stabilizing Renault and its fragile alliance in the automotive sector. And, as investors prepare to approve his term as chairman at the June 12 annual meeting, some are wondering how long the former Michelin CEO will lead the auto giant.
"Senard is struggling to fulfill its mission with Nissan, and now France has mocked him and his deal with Fiat," said Jean-Louis Sempe, an badyst at Invest Securities. "He is not threatened, but he might decide to throw in the towel because this project is collapsing and relations with Nissan are difficult."
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