Renault embarks on post-Ghosn era with smaller profit goal

Renault logo

Renault’s beginning of a new era Renault set a weaker full-year profit goal on Thursday, mentioning currency challenges and market uncertainties, as the French automaker presented annual results without its ousted CEO Carlos Ghosn for the first time ever in 13 years. Under new leadership since ouster of Ghosn, Renault targeted profitability of “around 6 […]

Renault to alert prosecutors about Ghosn’s wedding costs

Attribution: Kaspars Garda, garda.lv

Renault has discovered evidence that it paid part of ex-CEO Carlos Ghosn’s wedding costs and is planning to turn the investigation over to prosecutors, two weeks after the automaker’s eliminated Ghosn from the board. An internal investigation established that a 2016 sponsorship deal with the Chateau de Versailles consisted a 50,000 euro ($57,000) personal benefit […]

Renault should show ‘total transparency’: Bruno Le Maire

Renault Trezor, Paris motor show

French automaker Renault must show “total transparency” as it investigates its business practices, including a sponsorship deal stuck with the Chateau de Versailles, finance minister Bruno Le Maire stated on Thursday. “The audit into Renault has begin, it is beginning to bring out results, I had personally demanded that audit,” Le Maire added informed the […]

Nissan executives used ‘plot and treason’ to halt Renault integration, says Ghosn

Carlos Ghosn Renault-Nissan

Carlos Ghosn stated Nissan executives opposed to his strategies for closer ties with automaking alliance Renault SA turned to “plot and as treason” to disrupt them as well as were behind the financial misbehavior accusations against him. Talking to the Nikkei paper in his first media interview since his arrest in Japan on November 19, […]

France warns against ‘exorbitant’ payoff for Carlos Ghosn

Carlos Ghosn Renault-Nissan

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 […]

Nissan CEO calls for Renault board to evaluate Ghosn findings

2015 Nissan Xterra SUV

Nissan expects alliance partner Renault’s board to back its removal of Chairman Carlos Ghosn once it sees proof from the Japanese automaker’s investigation, Chief Executive Hiroto Saikawa stated in a Monday newspaper interview. Nissan understands that findings it gave to Renault lawyers over a month ago have still not been shared enough with the Renault […]

Ghosn’s wife urges Human Rights Watch to draw attention to Ghosn’s treatment in Japanese Jail

Carlos Ghosn Renault-Nissan

The wife of former Nissan Motor chairman Carlos Ghosn has urged New York-based Human Rights Watch to draw attention to his “harsh treatment” during detention in a Japanese jail, a letter read by Reuters revealed on Sunday. Japanese officials have charged Ghosn with under-reporting earning and aggravated breach of trust for temporarily transferring personal investment […]

Nissan broadens Ghosn investigation to more nations, executive Munoz under scrutiny

Nissan Motor logo

Nissan Motor has expanded its investigation into ousted chairman Carlos Ghosn to consist dealings that occurred in the United States, India and Latin America, three people with information of the inquiry stated. In one aspect of their internal investigation, company investigators are looking into decisions made in the United States by Jose Munoz who led […]

Nissan board reassures alliance with Renault and Mitsubishi

Renault-Nissan-Mitsubishi Renault Nissan Mitsubishi

Nissan’s board remains committed to the automaker’s alliance with Renault and Mitsubishi Motors, it stated after directors met to talk about the ongoing investigation into former chairman Carlos Ghosn and ways to strengthen governance. A board statement after Thursday’s meeting included that it also decided on an interim process to figure out executive remuneration and […]

New allegations against Ghosn covers payments to Saudi businessman

Carlos Ghosn Renault-Nissan

New misconduct allegations brought by Japanese prosecutors against ousted Nissan Chairman Carlos Ghosn concerns the use of company funds to pay a Saudi businessman who is believed to have assisted him out of financial difficulties, two company sources with knowledge of the matter satated. Prosecutors arrested Ghosn for a third time on Friday, alleging him […]