Renault: tandem Bolloré-Senard to replace Ghosn



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The tandem consisting of Thierry Bolloré, deputy Carlos Ghosn and designated dolphins, and Jean-Dominique Senard, Michelin boss, will take over Renault on Thursday (January 24), ending the Ghosn era which opened in 2005.

>> Renault: Carlos Ghosn will leave a strong and globalized group
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Information about Carlos Ghosn was broadcast on Japanese television on public screens in Tokyo on January 22. Photo: AFP / VNA / CVN

The car maker council is scheduled for Thursday, January 24, starting at 10:00 (9:00 GMT) at the manufacturer's headquarters in Boulogne-Billancourt, near Paris. Renault confirmed the holding of this meeting, but did not want to comment on the succession of its boss, who has been jailed since November 19 in Japan where he was charged with breach of trust and malpractice.

However, a source familiar with the case said that the CEO Ghosn position would be divided into two functions: one executive directorate on the one hand and the chairman of the board on the other. According to this source, Mr. Bolloré, who had been Carlos Ghosn's deputy and was appointed as a dolphin since last year, must be appointed as managing director, who has served as interim director since late November.

55-year-old Breton, quietly and until then only a little known to the general public, is a connoisseur of Asia and Japan. He will ensure continuity in the group he participated in in 2012, from equipment manufacturer Faurecia.

Jean-Dominique Senard, March 66, who will submit May as Michelin boss, will be the Chairman of the Renault Board. The man with the image of a social boss got the blessing of the French government, while the country was Renault's biggest shareholder with 15% of capital and almost 22% of the right to vote.

"In our opinion, Jean-Dominique Senard will be the superior president of Renault", Minister of Economy Bruno Le Maire said on BFMTV, the minister also clearly defined the tandem role that would lead the producers.The next president's role is to strengthen the Alliance, to strengthen the industrial giant which is now the largest car manufacturer in the world. That is the main responsibility of the next president"the minister said, without saying whether Mr. Senard could also lead the Alliance.

"And then there is the operational function of Renault, that's the role of the General Manager"For his part, Carlos Ghosn was again denied bail on Tuesday, his detention for detention now runs until March 10 and can be extended several times. He will likely remain jailed for months until his trial.

Renault "did not receive a resignation letter from Carlos Ghosn"From his position as CEO," said the Mayor.

Thierry Bolloré (left), Bruno Le Maire (center) and Carlos Ghosn in Maubeuge, 8 November 2018. Photo: AFP / VNA / CVN

French-Japanese tension

Ghosn's affair, which was revealed by Nissan's internal investigation into which Renault holds 43% of capital, has revealed tensions in the French-Japanese alliance, which also includes the manufacturer Mitsubishi Motors, where Nissan holds 34%. Respected in Japan until his arrest, Carlos Ghosn, savior of Nissan in the early 2000s, was the keystone of the Renault-Nissan-Mitsubishi, together he brought to the forefront of global carmakers, with 10.6 million vehicles sold in 2017.

Renault's new management will have a subtle task to calm revenge and put this important alliance back on track for each partner. But there is no question at this time to influence its structure based on cross-share ownership and led by a company in the Netherlands, RNBV, whose seats should belong to Renault executives.

The Japanese leaders seemed to be pushing for a balance of power within the Alliance. In recent weeks, Nissan officials have leaked in the press revelations about the actions of their former boss.

After 14 years as group leader, Carlos Ghosn left the company in good financial health, he will increase global sales volume by more than 50% to nearly 4 million vehicles (excluding Nissan and Mitsubishi), in developing especially cheap slots with the Dacia brand and Pepper.

Renault's action ended down 0.23% to 56.78 euros, on the market down 0.42% Thursday, January 24 at the Paris Bourse.


AFP / VNA / CVN

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