Acting Head of Renault: I will protect our interests in the Nissan alliance

PARIS (Reuters) – Renault ((Reuters)RENA.PA) The Acting Executive Director stated that he would preserve the builder's interests as part of his alliance with Nissan Motor Co (7201.T), following the ousting of Carlos Ghosn as Nissan chairman regarding charges of financial misconduct.

Nissan's board vote to remove Ghosn from office on Thursday marked a firm course of action under his leadership of the nearly two-decade-old alliance.

"I will be careful to ensure our stability and remain focused on our missions in order to preserve Renault's interests and the sustainability of the alliance," said Thierry Bollore, Renault's Ghosn representative after the arrest of the company. Japanese industrial star in Japan. a video to the shareholders.

The ownership structure of Renault, Nissan and Mitsubishi, which was incorporated into the alliance in 2016, has become a source of tension alongside the withdrawal of Ghosn. Nissan is unhappy with what it considers to be a junior partner status.

Renault holds a 43.4% stake in Nissan, while Nissan holds only 15% of Renault's non-voting shares. Yet, Nissan sales are 60% larger than those of the French manufacturer.

The relationship is further complicated by the role of the French State, which holds 15% of Renault's capital and enjoys double voting rights.

Ghosn and former representative of Nissan representative Greg Kelly are under investigation for alleged conspiracy to underestimate Ghosn's five-year payout as of fiscal year 2010 for approximately half of the 9,998 billion yen ($ 88.9 million).

On Friday, the Asahi newspaper announced that Japanese prosecutors would start a new criminal case against Ghosn for underestimating his compensation of 3 billion yen ($ 27.0 million) over three years from fiscal year 2015 .

After the spectacular fall of Ghosn, the French and Japanese ministers reaffirmed their support for the Renault-Nissan alliance, extended to Mitsubishi in 2016.

"Our group is perfectly organized to ensure the continuity of the company's business," said Bollore.