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France urges Renault to replace Carlos Ghosn

International Business
Thu, 17 Jan 2019
ANI


Paris: French Economy Minister Bruno Le Maire on Wednesday opined that it was time for new leadership at Renault, saying that its jailed chairman Carlos Ghosn should be replaced as soon as possible.

"We want a meeting of the Renault executive board in the next few days. We're asking for new long-term leadership," Le Maire was quoted by CNN saying.

The French government own 15 per cent of Renault. It previously supported the French automobile manufacturer's decision to allow Ghosn to continue serving his post while awaiting a trial.

On January 11, the 64-year-old Renault boss was indicted for the second time since he was arrested on November 19 last year on charges of financial misconduct.

Ghosn has been charged by Japanese prosecutors for temporarily transferring personal investment losses to Nissan and understating his income between 2010 and 2018, CNN reported.

Last December, Ghosn was re-arrested after new allegations surfaced on aggravated breach of trust, where the 64-year-old Brazilian-French businessman made Nissan shoulder $16.6 million in personal investment losses.

Ghosn is chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, the automotive collaboration of France's Groupe Renault, Japan's Nissan Motors and Mitsubishi Motors. He is also the Chairman and CEO of Renault. Ghosn was fired as the chairman of both Nissan and Mitsubishi Motors following his arrest. 

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