RENAULT

Former Renault CEO shoots shit on fan

The battle between Renault and Nissan is increasingly hot. It is now well known that, just days before he was removed from the position of CEO of Renault, the French group and the Renault-Nissan-Mitsubishi Alliance, Thierry Bolloré(image above) wrote a letter to the Nissan administration on 11 October, where Bolloré also It had a seat. In this letter, dated 7 October, the French manager who replaced Carlos Ghosn in the leadership made accusations of extreme gravity.
The contents of Bolloré's letter to Nissan were made public by the newspaper Le Monde, where the French board first pointed to alleged conflicts of interest and governance at Nissan, then accused the internal investigation that allowed Carlos Ghosn to be biased. , culminating with a finger-pointing of about 80 Japanese construction managers who had similar payment arrangements to those that led to Ghosn's removal and house arrest since November 2018.
The Japanese brand never fully explained the reasons that led it to forgive Japanese Hiroto Saikawa, the CEO who served when Ghosn was chairman, the same deals with the manufacturer that led Carlos Ghosn to remand. And now, based on Bolloré's accusations, it appears that there are over 80 senior cadres with similar deals aimed at allowing Nissan and employees to evade taxes.
Le Monde's release of Bolloré's letter, full of accusations and new revelations, comes as Renault seeks a definitive replacement for its former CEO, a post that is interimly held by Clotilde Delbos.
The Japanese court will have to, one of these days, finally try Carlos Ghosn, who has been holding pre-trial detention for over a year. This will be followed by Nissan's prosecution on charges brought by the French manager, but this time in the Netherlands, where the Alliance's headquarters are located and everyone expects it to proceed faster and allegedly less biased.
Regardless of how the processes are resolved, the solution advanced by Bernstein analyst Max Warburton, who advised Renault chairman Jean-Dominique Senard to get rid of his stake in Nissan, which can see more and more, is increasingly making sense. here, although at the time the topic comes about the hypothetical merger with FCA, which is now being negotiated with PSA.

Autonews