Renault names new leaders to replace Ghosn, jailed in Japan

ASSOCIATED PRESS
PARIS
Published 25.01.2019 00:07

The board of French carmaker Renault yesterday named two new leaders to replace industry veteran Carlos Ghosn, who resigned after weeks of detention in Japan.

The board chose Jean-Dominique Senard of Michelin to be chairman and Renault executive Thierry Bollore as CEO. Ghosn previously held both posts.

In a statement, the board expressed "its confidence in the new leadership" and wished it "every success in its mission."

France's finance minister, Bruno le Maire, had confirmed earlier that Ghosn formally handed in his resignation from his roles at Renault on Wednesday evening.

Ghosn has been detained for more than two months in Japan, keeping him from fulfilling his duties at Renault.

The French government owns about 15 percent of Renault SA, making it an influential voice in its handling. And while Renault initially stood by Ghosn after his Nov. 19 arrest, the French government has pressed for him to be replaced. Le Maire said Renault's new chairman will work to strengthen the Renault-Nissan alliance, which had been long driven by Ghosn and now faces questions over its future.

Senard had been at the helm of French tire giant Michelin for almost seven years. He was recently described by Le Maire as "a great industrialist" with a "social vision" of business. Bollore, who joined Renault in 2012, was appointed deputy chief executive officer of the group last November as part of the transitional leadership after Ghosn's arrest in Japan.

The 64-year-old star executive led Nissan for two decades and was simultaneously chairman and CEO of Renault since 2009.

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