French government representatives in Tokyo

While Renault's CEO is still detained in Japan, the state seems to want to prepare the post-Carlos Ghosn.

The World with AFP Posted today at 01:31

Time to Reading 2 min.

Carlos Ghosn, CEO of the Renault-Nissan-Mitsubishi Alliance at the Paris Motor Show, October 1, 2018
Carlos Ghosn, CEO of the Renault-Nissan-Mitsubishi Alliance at the Paris Motor Show, October 1, 2018 REGIS DUVIGNAU / REUTERS

Several representatives of the French government will travel to Tokyo Wednesday, January 16 for a series of meetings with the various protagonists of the Renault-Nissan, in preparation for the post-Carlos Ghosn, said Bercy Tuesday night. Will participate in this trip Martin Vial, Director General of the Agency of State Participation (APE), and Emmanuel Moulin, Chief of Staff of the Minister of Economy and Finance Bruno Le Maire, detailed Le Figaro.

Read also The request for release of Carlos Ghosn once again rejected

This is a "Displacement planned for several days, in continuity of the contacts that the minister and the Bercy teams have had for several weeks" with the Japanese parties, said the office of Mr. Mayor. "We have always said that we follow the daily situation at the highest level. The state fully assumes its role as a reference shareholder " of Renault.

The state is indeed the largest shareholder in the diamond group, with 15.01% of the capital. Nissan holds 15%, but without voting rights in general meeting. Through cross-shareholdings, Renault controls 43% of Nissan, which it saved from bankruptcy almost twenty years ago.

At Renault, the question of governance

Carlos Ghosn, indicted in particular for breach of trust, saw his application for bail again rejected Tuesday and could remain in prison months, which would make it difficult to maintain the head of Renault, which he is still CEO. Until his arrest, Carlos Ghosn held this position alongside CEO of the Renault-Nissan-Mitsubishi Alliance and chairman of the boards of Nissan and Mitsubishi. He has since been stripped of his functions at the two partners, where Japanese should logically replace him.

The establishment of a new governance at Renault should be discussed at a meeting of the board of directors of the manufacturer scheduled for Sunday, ensures otherwise Le Figaro. Contacted by AFP, Renault has not confirmed this last information Tuesday night. The interim of Mr. Ghosn at Renault is provided by Thierry Bolloré. Appointed number two a year ago, he is an unofficial dolphin to succeed him to the general direction of the French manufacturer.

Article reserved for our subscribers Read also «Renault must dismiss Carlos Ghosn from his position as CEO»

While the French press has echoed a split governance with the appointment of a non-executive president, the name of Jean-Dominique Senard, outgoing president of Michelin, returns regularly for this position. A source close to the file said Tuesday evening to AFP that "The situation should move quickly". "The name of Jean-Dominique Senard is cited by management", added this source.

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