Renault-Nissan alliance will not appoint acting president

Renault, Nissan and Mitsubishi yesterday reaffirmed their determination to maintain their industrial alliance, but the three manufacturers will not appoint an interim president in place of Carlos Ghosn, whose arrest is swaying the stranglehold of the French group on the whole.

Renault and Nissan have "strongly reiterated" their commitment to each other, said the boss of Mitsubishi Motors Osamu Masuko, adding that the direction of the alliance will evolve rather towards a joint governance under the direction of the directors of the three car manufacturers. Renault and Nissan executives, who met in Amsterdam, did not discuss the question of a change in the capital structure of the alliance, he added during a press briefing in Tokyo. . The meeting lasted less than an hour, he said. The leaders have agreed to meet more often, for example on the sidelines of International Motor Shows, reported Osamu Masuko.

Excluded from the Nissan and Mitsubishi presidency, Carlos Ghosn is still the CEO of Renault and the alliance. Before the meeting, the three manufacturers had issued a joint statement to reaffirm their commitment to the Franco-Japanese automotive alliance, headquartered in Amsterdam.

Prolonged detention?

It was the first time they had met since the imprisonment of Carlos Ghosn, there are 10 days in Japan. The leaders of the three groups who made the trip avoided journalists' questions by entering the building through an underground car park. "In a unanimous and convincing manner, the Boards of Directors of the Renault Group, Nissan Motor and Mitsubishi Motors have reaffirmed in recent days their deep commitment to the alliance," they said in the statement. "We remain fully committed to the alliance. The crisis triggered by the arrest of Carlos Ghosn has worsened, however, the president of Nissan Acting Hiroto Saikawa trying to reduce the domination of Renault on the Japanese group.

Hiroto Saikawa has not made the trip to Amsterdam but is participating in video-link discussions, according to Nissan officials. Nissan Philippe Klein, director of planning, was present. The Deputy General Manager of Renault Thierry Bolloré, in charge of acting with the lead manager Philippe Lagayette, was not seen.

Carlos Ghosn was arrested on November 19 in Japan, where he is accused of not reporting his entire income and misappropriating Nissan funds for personal gain. According to the Kyodo news agency, the Tokyo prosecutor wants to extend his detention, which is supposed to be completed today. He may request an extension of imprisonment for a maximum of 10 additional days, and must at that time decide to indict Carlos Ghosn or have him released.

Source: Reuters