Renault names acting CEO after Ghosn’s arrest, hopes to keep alliance

Renault SA on Tuesday named its chief operating officer as acting CEO without ousting Carlos Ghosn, who was arrested in Japan this week.

The French carmaker also said it will consolidate its alliance with Nissan Motor Co. and Mitsubishi Motors Corp., although the two Japanese partners have indicated plans to dismiss Ghosn, who serves as chairman at both firms, at board meetings slated for Thursday and next week, respectively.

(Renault headquarters in Boulogne-Billancourt, France)[Getty/Kyodo]

«Mr. Ghosn, temporarily incapacitated, remains chairman and chief executive officer,» Renault said in a press release following a board meeting, where it also decided to appoint COO Thierry Bollore as deputy CEO to lead the firm’s management on a temporary basis.

Renault will request Nissan «to provide all information in their possession arising from the internal investigations related to Mr. Ghosn,» it said.

Ghosn was arrested Monday in Tokyo for allegedly underreporting his remuneration by some 5 billion yen ($ 44 million) over five years from 2011 in securities reports.

Nissan said the same day its internal investigation, launched following a whistleblower complaint, revealed «significant acts of misconduct» by Ghosn, including underreporting his pay package to regulators and misusing company assets for personal gains.

Nissan Chairman Ghosn arrested for understating salary 5 bil. yen

Nissan’s Ghosn suspected of using firm’s overseas houses for free

Ghosn’s arrest stirs anger, dismay among Nissan workers

All — Kyodo News+

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