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Thu, 13 Dec 2018 16:25:55 +0000
Renault will keep Carlos Ghosn in CEO role
Renault won’t follow Nissan in ousting arrested chairman as its internal investigation finds no wrongdoing
Renault’s board has voted to keep Carlos Ghosn as its CEO and chairman after an internal investigation found no wrongdoing or illegal activity with regards to his pay.
The move comes less than a week after Ghosn, who was removed from his role as Nissan director and chair, was formally charged by Japanese prosecutors for financial misconduct. He stands accused of under-reporting his income by around £34 million over five years, and misusing Nissan company assets.
Following a board meeting on Thursday, Renault revealed that preliminary conclusions of an ongoing investigation suggested that Ghosn’s compensation approval was “in compliance with applicable law” and that it would “maintain the current governance measures”. Day-to-day running of the company was handed to COO Thierry Bollore in November.
Renault, along with the stakeholding French government, has previously claimed that Nissan denied the firm access to more detailed allegations against Ghosn. The revelations are reported to have created a rift between the two firms, which are also in alliance with Mitsubishi.
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