October 27, 2020

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    French Finance Minister Bruno Le Maire stated on Wednesday the government had requested a Renault board meeting in near future to replace the company’s scandal-hit Chairman and Chief Executive Carlos Ghosn.

    The company needs a change of governance, Le Maire stated in an interview with French TV station LCI, confirming a previous Reuters report that France wanted a new Renault leadership.

    “We have to move to a new phase,” Le Maire stated.

    The government, Renault’s biggest shareholder, had supported the automaker’s decision to keep Ghosn in office while he awaits trial in Japan for supposed misconduct at Nissan, the automaker’s alliance partner which he also chaired until his ouster in November after the arrest.

    Behind the scenes, however, the state had started seeking candidates to replace Ghosn in November and December, sources knowledgeable with the matter informed Reuters before.

    Renault’s nominations committee is now expected to meet on January 20, a source with understanding of the matter said.

    Nissan , Renault

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