France President Macron vows to maintain Renault-Nissan stability

Emmanuel Macron images

France will collaborate to maintain the stability of Renault and its alliance with Nissan, France President Emmanuel Macron stated on Monday, following the Japanese automaker action to oust Chairman Carlos Ghosn over alleged financial misconduct.

“It’s too early to comment on the reality or materiality of the accusations, about which I have no further information,” Macron informed reporters in Brussels.

“As a shareholder, however, the French government will remain extremely vigilant regarding the stability of the alliance, the (Renault) group and … its employees, who have the full support of the state.”

Nissan stated earlier on Monday that it prepared to oust Chairman Carlos Ghosn after accusing him of making personal use of company assets and committed other unspecified acts of severe misconduct.

The French state holds 15 percent of Renault, which in turn holds a 43.4 percent stake in Nissan.

The Japanese automaker stated that based on a whistleblower report, it had been probing possible improper practices by Ghosn and board member Greg Kelly for several months, and that it was completely cooperating with investigators.

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