Renault is considering new governance

Renault confirmed on Thursday that it has been thinking about new leadership to replace embattled Chairman and CEO Carlos Ghosn, following French Finance Minister Bruno Le Maire’s calls for a board meeting to address his succession.

“The governing bodies of Renault are actively collaborating to find the best solution for the future governance of the company, with a view to preserving the company’s interests and strengthening the Renault-Nissan Alliance,” the automaker stated in a statement issued in the name of acting chairman Philippe Lagayette and another senior director.

The statement came a day after Le Maire called for a modification of Renault’s leadership, following Tokyo court’s refusal to release Ghosn on bail as he awaits trial in Japan on financial misconduct charges which he denies.