Renault to chart course for post-Ghosn era with new bosses

phys.org | 1/24/2019 | Staff
TaylorShaye (Posted by) Level 3
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Renault is expected Thursday to appoint a new leadership duo to drive the French carmaker into an era without lynchpin Carlos Ghosn, who remains in a Japanese jail on financial misconduct charges.

The firm is poised to select interim chief executive Thierry Bollore as CEO and the head of tyre manufacturer Michelin, Jean-Dominique Senard, as chairman. Ghosn previously held both roles but has reportedly resigned as he fights the charges in Japan.

Board - Meeting - Place - GMT - Paris

A board meeting will take place at 10:00am (0900 GMT) near Paris to replace Ghosn, who has been at the head of the firm since 2005 as well as leading Renault's three-way alliance with Nissan and Mitsubishi Motors.

The alliance sold more cars than any other group last year but its future has been thrown into uncertainty with the stunning arrest of Ghosn, who is widely credited with driving the fractious companies together.

Bollore - Asia - Hand - Relations - Nissan

Bollore, 55, is viewed as an old Asia hand which should help in relations with Nissan. A keen sailor, he will have to plot a course through choppy waters in the wake of the Ghosn shock.

The 66-year-old Senard is understood to have the backing of the French state, which owns just over 15 percent of Renault and holds 22 percent of the voting rights.

Michelin - Man - Firm - Member - World

The Michelin man has worked at the firm since 2005 and was the first non-family member to head the world's second-largest tyre manufacturer. He was due to hand over the CEO role to his deputy in May.

With a ready smile and elegant attire, Senard has successfully negotiated sensitive labour agreements with trade union leaders in Michelin's French factories to preserve jobs in the face of cheaper imported Asian products.

Merger - Table

Merger 'not on table'

Ghosn is expected to stay behind bars for several months after seeing a second...
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