Nissan CEO did not mention need to review equity partnership with Renault

Nissan Motor stated CEO Hiroto Saikawa did not mention a need to evaluate the automaker’s equity partnership with French automaker Renault SA at a town hall meeting he held with staff on Monday morning.

Nissan made the remark after the Nikkei business daily quoted Saikawa as saying employees that Nissan’s “tie-up relationship with Renault was not on an equal basis”, adding that Renault owns 43 percent of Nissan, where as the Japanese firm holds a non-voting 15 percent in Renault.

A Nissan spokesman stated Saikawa had mentioned an excessive concentration of power in a single individual – Carlos Ghosn – who is CEO and chairman of Renault and was, until his elimination last Thursday, also chairman of Nissan.

That had not encouraged the other board members of Renault and Nissan from discussing directly with each other, instead escalating decisions to Ghosn, the spokesman quoted Saikawa as informing staff.