External candidates are not seen considered.
External candidates are not seen considered.

Renault Board’s Senior Member Quits

Renault Board’s Senior Member Quits

Senior Renault board member Thierry Desmarest has resigned from the French carmaker days ahead of a meeting at which Chief Executive Carlos Ghosn is asking directors to back his chosen successor’s appointment.
Desmarest’s exit comes amid renewed tensions between Renault and the French government, which has been pressing Ghosn to recruit a second-in-command who could one day succeed him at the helm of the Renault-Nissan alliance, Reuters reported.
Former Total CEO Desmarest, whose mandate runs until 2020, told Renault early last week that he was stepping down early, people familiar with the matter said.
His exit closely follows that of chief performance officer Stefan Mueller, which cleared the way for Ghosn to propose his other deputy, Thierry Bollore, as chief operating officer and heir apparent.
A spokeswoman for the French oil giant, where Desmarest remains honorary chairman, declined to comment. The company did not respond to Reuters’ requests to speak to him directly.
A Renault spokesman said: “We do not comment on rumors and speculation.” A French government spokesman did not return calls seeking comment.
At least two directors - other than Desmarest - have raised concerns about the recruitment process and its outcome, sources told Reuters.
“External candidates were not so much as considered,” said a person with knowledge of the matter, even when profiles such as Toyota second-in-command Didier Leroy were put forward by recruitment firms.
Renault placed Bollore atop its shortlist at the start of the process and blocked attempts by the external advisers to bring Mueller, a German-born BMW veteran, into serious contention, the source said.
Ghosn, 63, had earlier been expected to hand over the reins to a new chief executive and move to a new role overseeing Renault, Nissan and Mitsubishi’s three-way carmaking alliance.
But the plan foundered on differences with the French state over the alliance’s future shape and direction. 
Renault currently holds 43.4% of Nissan, which in turn controls Mitsubishi Motors via a 34% stake.

Short URL : https://goo.gl/x6Y7yk
  1. https://goo.gl/hGM4U1
  • https://goo.gl/FXgcbm
  • https://goo.gl/WDesNc
  • https://goo.gl/VNikui
  • https://goo.gl/1o2yCj

You can also read ...

German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Banking Amendments Approved
The Money and Credit Council approved the Central Bank of Iran...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Prices have been jacked up by car dealers and some makers by 6-22% only in the past few weeks.
Authorities are set to ratify new car prices for models...

Add new comment

Read our comment policy before posting your viewpoints