Renault ousts CEO in post Ghosn-era reset:The Asahi Shimbun

Renault ousts CEO in post Ghosn-era reset:The Asahi Shimbun

Renault ousts CEO in post Ghosn-era reset:The Asahi Shimbun

PARIS-French carmaker Renault dismissed its CEO on Friday, an attempt to revitalize its alliance with Nissan, which was shaken by the jailing of the companies' previous chief, Carlos Ghosn.

Bollore also told Les Echos newspaper on Thursday he was appealing to the key Renault shareholder, the French state, to avoid destabilising the company.

A source close to the company told AFP that Bollore had made his case at the board meeting, where "he was blamed for management and performance failings".

The French finance ministry expressed its support of Senard on Thursday evening - after Bollore's comments were published - and said in a brief statement Senard was trusted to submit the " necessary decisions" to Renault's board of directors.

"In an exceptional board meeting Friday, "the board of directors chose to end the mandate of Mr Thierry Bollore as chief executive officer of Renault. with immediate effect", the company said".

In point of fact, tensions were running high between the alliance partner, French Renault SA and Japanese Nissan, since the arrest and dismissal of former alliance boss and Nissan Chair Carlos Ghosn over charges of financial misconduct including personal embezzlement of company funds, proof of which had never been found.

Renault owns 43 percent of Nissan but their alliance came under strain after Ghosn's jailing.

Given her background, Renault says she will assisted by Olivier Murguet, head of global sales, and Jose-Vincente de los Mozos, the company's manufacturing and supply chain chief.

The Japanese firm picked Makoto Uchida, previously the head of its Chinese business, to replace Hiroto Saikawa, who stepped down as CEO in September after he admitted to being improperly overpaid.

"The brutality and the totally unexpected nature of what is about to happen is stupefying", he said, adding "I was always loyal to him".

Mr Uchida is known for close ties to Renault, which could help ease tensions in the alliance.

"What is at stake is not me personally but the future of Renault and its 186,000 employees", he told Les Echos.

Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French government influence in the alliance.

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