Jailed Carlos Ghosn finally resigns from Renault roles
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Renault boss Ghosn resigns after arrestBy Alan ToveyCARLOS Ghosn has resigned as the chairman and chief executive of -Renault in a wider shake-up of the French carmaker’s management.
The overhaul comes in the wake of Mr Ghosn’s arrest in Tokyo, where he remains in jail facing charges of financial misconduct while running Nissan.
The board of Renault said yesterday it had “taken note” of Mr Ghosn’s resignation and decided to split the chairman and chief executive roles.
Michelin boss Jean-Dominique Senard will become the chairman, with Thierry Bolloré, who was acting in Mr Ghosn’s place since the arrest in November, becoming chief executive.
News of his resignation first came from Bruno Le Maire, the French finance minister, at the World Economic Forum in Davos.
The French government has a 15pc stake in Renault, making it a powerful force in the company’s governance.
Mr Le Maire has previously called for Mr Ghosn to quit, saying his legal troubles weaken an automotive alliance between Renault, Nissan and Mitsubishi, which together are the world’s largest car group.
Mr Ghosn was the driving force in the creation of the tie-up, which allowed the companies to grow as they shared R&D and manufacturing costs.
He was sacked as chairman of Nissan and Mitsubishi within days of his arrest, but the Renault board initially backed him.
Mr Ghosn faces three charges: two of under-declaring his income by tens of millions of dollars over eight years, and another of seeking to shift personal investment losses on to Nissan.
He is expected to remain in prison until his trial.
-The Daily Telegraph