Renault retains “temporarily incapacitated” Ghosn as CEO

No word as yet from Carlos Ghosn whose arrest in Tokyo still sees him as Renault CEO while "temporarily incapacitated"

No word as yet from Carlos Ghosn whose arrest in Tokyo still sees him as Renault CEO while "temporarily incapacitated"

Renault says it is retaining Carlos Ghosn as CEO but has asked alliance partner, Nissan for "all information in their possession" while the Japanese automaker investigates the Brazilian-born Frenchman for what it says is "misconduct."

Ghosn was arrested in Tokyo on Monday (19 November) and although he has made no comment on the situation, Renault swiftly said COO, Thierry Bolloré, will be "specifically in charge of the continuity of the Executive Committee of Groupe Renault."

Nissan has been investigating Ghosn and representative director, Greg Kelly regarding what the Japanese manufacturer says is "misconduct," although no statement has yet been released by the pair as to their views.

Bolloré will be in "permanent contact with the board of directors of Groupe Renault, the Lead Independent Director and the committees of the board," noted a Renault statement.

Renault has now adopted what it refers to as "transitional governance measures" to ensure continuity of its operations after a board meeting chaired by lead independent director, Philippe Lagayette.

"At this stage, the board is unable to comment on the evidence seemingly gathered against Mr. Ghosn by Nissan and the Japanese judicial authorities," noted a statement from the automaker.

"Mr Ghosn, temporarily incapacitated, remains chairman and CEO. The board resolved to appoint Thierry Bolloré on a temporary basis as deputy CEO. Bolloré will therefore lead the management team of the Group, having the same powers as 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 transference, trust and mutual respect set forth in the Alliance Charter, to provide all information in their possession arising from the internal investigations related to Ghosn."

Renault's board endorsed support expressed by Nissan management to the Renault Nissan Mitsubishi Alliance, which it insisted, "remains the priority of the Group."

At this stage, the board added it was unable to comment on the evidence seemingly gathered against Ghosn by Nissan and the Japanese judicial authorities.

See also: COMMENT – Is there politics behind Nissan Ghosn charges?

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