– FRANCE, Boulogne-Billancourt – Renault SA (EPA:RNO) today announced that its Board of Directors held today adopted transitional governance measures to preserve the interests of the Group and the continuity of its operations.
The Board was chaired by the lead independent director Philippe Lagayette after the opening of judicial proceedings against Carlos Ghosn in Japan. At this stage, the Board is unable to comment on the evidence seemingly gathered against Mr Ghosn by Nissan and the Japanese judicial authorities.
Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer. The Board of Directors resolved to appoint Thierry Bolloré on a temporary basis as Deputy Chief Executive Officer. Mr. Bolloré will therefore lead the management team of the Group, having the same powers as Mr. Carlos Ghosn.
During this period, the Board will meet on a regular basis under the chairmanship of the lead independent director to protect the interests of Renault and the sustainability of the Alliance.
The Board decided to request Nissan, on the basis of the principles of transparence, trust and mutual respect set forth in the Alliance Charter, to provide all information in their possession arising from the internal investigations related to Mr. Ghosn.
The Board endorsed the support expressed by the Nissan management to the Renault Nissan Mitsubishi Alliance, which remains the priority of the Group.
About Groupe Renault
Groupe Renault has been making cars since 1898. Today it is an international, multi-brand group combining the Renault, Dacia and Renault Samsung Motors, Alpine and LADA brands. In 2017, it sold close to 3.76 million vehicles through 12,700 outlets in 134 countries. Groupe Renault employs more than 180,000 people and operates 36 manufacturing facilities worldwide. To address the major technological challenges of the future and pursue profitable growth, Renault focuses on international development. It is harnessing complementary coverage across its five brands; electric vehicles; and its unique alliance with Nissan and Mitsubishi. With its Formula 1 team, Renault is active in motorsport as a powerful force behind innovation, image and brand recognition.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.