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Under arrest Carlos Ghosn left Renault

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In the night from 23 to 24 January Carlos Ghosn resigned as Chairman of the Board and CEO of Renault. This is with reference to the Minister of Finance of France Bruno Le Mayor (Bruno Le Maire) according to Reuters.

Members of the Renault Board will meet today to choose a replacement for the Rut. Experts suggest that the changes in management of the French automaker to reduce the degree of tension in relations with Alliance partner Nissan.

It is expected that the Chairman of the Board of Directors of Renault will be appointed head of Michelin Jean-Dominique Senar, and the Executive Director will make Thierry Bollore, which since November has held this position on a temporary basis.

After his arrest, Ghosn, the French authorities was directed to the Union of the two companies. Nissan opposes such conversion as the holder of the largest stake in the new concern will be the French government that will allow him to have more control over the Japanese manufacturer.

The French government owns about 15% of Renault shares, which, in turn, controls 43.4% of the securities of Nissan. While the Japanese company owns a share of just 15% non-voting stake in Renault.

Carlos Ghosn was arrested in November 2018. The Prosecutor’s office suspects him of Japan in the underreporting of income and abuse of position in which he manipulated the finances and declared personal losses as corporate. Since November, the Prosecutor’s office of Japan has repeatedly extended the arrest of Carlos Ghosn and impose new charges. Initially he was suspected of underreporting income from 2010 to 2014, then the government accused him of the same crime for the period from 2015 to 2017. Also in the course of the investigation added the charges of breach of trust.

In April 2017 Hong resigned as Executive Director of the Nissan, but retained a seat on the Board of Directors. Until recently, Carlos Ghosn remains head of the concern Renault–Nissan–Mitsubishi and was considered one of the most powerful managers in the automotive industry.

Recently the wife of the former head of the Nissan complained of ill-treatment of her husband in prison.

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