France warns against ‘exorbitant’ payoff for Carlos Ghosn

France’s finance minister stated on Sunday a severance package for previous Renault chief Carlos Ghosn, forced to resign in a financial misconduct, should not be “exorbitant” and that the French state would follow the issue closely.

Renault, which has now appointed a chairman and chief executive tandem to replace Ghosn, has not yet finalized its former boss’ severance package, a potentially explosive issue in France where the government is dealing with protests over low pay and inequality.

“No one would understand if the severance pay of Carlos Ghosn were exorbitant,” Bruno Le Maire informed France Inter radio.

“We are going to be extremely vigilant.”

The French state is the automaker’s largest shareholder, with a stake of around 15 percent, and holds two board seats.

Ghosn resigned from his Renault role last week under pressure from the French government after his arrest in Japan in November and indictment there for financial misconduct. He rejects any wrongdoing.