Thursday , June 17 2021

After the French state, Renault officially turns the page of the Ghosn

Credits: DR

Renault officially sought a successor to Carlos Ghosn on Thursday, a day after a call from the French state for new governance, the French manufacturer's CEO remains imprisoned in Japan for probably a long month.

"Renault's governing bodies are actively working to find the best solution for future governance"the diamond group said in a statement.

The announcement came about two hours after Tokyo court rejected a new bail for Ghosn, who has been held in a jail in Tokyo since November 19, when he is still officially the CEO of Renault.

The leader, on three counts of breach of trust and other bad financial practices, must remain in custody until at least March 10. His last little hope to leave quickly: a special appeal to the Supreme Court to be presented by his lawyer.

After having long defended the presumption of innocence and with the revelations that multiply and tarnish the image of the entrepreneur a little more, Renault, like the French state, its first shareholder, could not leave without leaving the interests of the group.

Read also: Renault: the French state loses Carlos Ghosn and seeks his successor

"I have always said, recalling Carlos Ghosn's presumption of innocence, that if he were to be permanently prevented, we should move to a new stage., Economy Minister Bruno Mayor said Wednesday night at LCI.

The French State, which holds 15% of the capital and around 22% of the voting rights, called for a board of directors to be called "in the next few days".

The date of Sunday was mentioned by the newspaper Le Figaro. But on Thursday afternoon, no notice had yet been sent to the directors, who must be notified at least 48 hours in advance. According to several sources close to the case, the date has not yet been fixed.

Discussions with the Japanese

The 66-year-old Jean-Dominique Senard, who was to be handed over as head of Michelin in May and appreciated by political power, is regularly quoted in the press.

The mayor praised the qualities Wednesday night, refraining from commenting on his possible candidacy. "He is a great industrialist, a man who has a social conception of the company and has demonstrated this many times"He said, noting that he was also "an expert in the automotive industry."

Read also: Court rejects Carlos Ghosn's request for bail

More mentioned scenario: Renault's CEO position can be divided into two, with a chairman of the board on one side and an executive director on the other, the name of Thierry Bolloré, called a year ago as assistant to Carlos Ghosn, returning with more frequency for this last post.

In addition to Renault, it will also have Carlos Ghosn as head of the Renault-Nissan-Mitsubishi Alliance, the first global automotive group, to be incorporated by the Dutch-based Renault-Nissan BV (RNBV). According to the company's bylaws, its boss is chosen by Renault.

But it is difficult to imagine that a consultation takes place without consulting the Japanese partners. Emissaries of the French government were also in Tokyo on Thursday to seek a consensus.

Nissan and Mitsubishi had already dismissed the Franco-Lebanese leader of their boards until the end of November.

Carlos Ghosn was able to defend his case for the first time last week in court during an exceptional appearance at his request: emaciated and handcuffed to court, he said to himself "falsely accused", denying the allegations point by point.

Ghosn's trial, which theoretically risks up to 15 years in prison, will not occur for months.

Among the most recent charges, the Alliance CEO would have received a compensation of more than 7 million euros in 2018 from a Dutch subsidiary owned by Nissan and Mitsubishi (NMBV), without approval from Nissan's bosses. and Mitsubishi, according to a source close to the record.

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