Posts Tagged ‘Ghosn news’

Update: Ghosn Successor Plan Wins Thumbs Up from French Government – But Support Comes with Stiff Price

France demanding Renault formally merge with Japanese ally Nissan.

by on Feb.12, 2018

Renault-Nissan-Mitsubishi Alliance chief Carlos Ghosn will get the man he wants to succeed him when he retires: COO Thierry Bollore.

Carlos Ghosn’s plan to name his successor later this week has cleared a critical hurdle despite creating some turmoil – including the resignation of one of French automaker Renault’s senior board members.

The French government, which owns a major stake in Renault, now says it will accept Ghosn’s plan to appoint Thierry Bollore as the carmaker’s chief operating officer and his heir-apparent. But the government also said that it wants an agreement that Ghosn will push to form an “integrated” company – translation: a merger – with Japan’s Nissan, rather than the current alliance structure. Ghosn has long preferred to see the two companies coordinate efforts but remain independent.

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Ghosn, who will turn 64 next month, is expected to be given another four-year contract as chairman, CEO and president of Renault in June, but naming Bollore his successor “is perfectly acceptable to the French shareholder,” according to a source in the government’s finance ministry who spoke to the Reuters news service on Monday. (more…)

Turmoil at Renault as Ghosn Preps to Name Successor

Senior board member ousted.

by on Feb.12, 2018

Thierry Bollore, currently chief operating officer of Renault, is CEO Carlos Ghosn's choice to succeed him when he retires.

Carlos Ghosn’s plan to name a successor is touching off turmoil within the board of directors at French automaker Renault, according to reports out of Europe.

Senior board member Thierry Desmarest has resigned, according to the Reuters news service, following the recent resignation of Stefan Mueller, Renault’s chief performance officer. Their departures appears to clear the way for Ghosn to name Thierry Bollore as his chief operating officer and heir apparent.

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One of the highest-profile executives in the automotive world, Ghosn has taken on a variety of senior positions since he was first assigned to rescue the Japanese side of what became the Renault-Nissan Alliance two decades ago. That includes serving as CEO of both Renault and the Alliance, as well as chief executive of Mitsubishi, which recently became third member of the group. (more…)

Ghosn Stepping Down as Nissan CEO

Looking to find ways to improve the alliance.

by on Feb.23, 2017

Carlos Ghosn is now the former CEO of Nissan after stepping down. He remains chairman of the automaker as well as chairman and CEO of the Alliance.

Carlos Ghosn, chairman and CEO of the Renault-Nissan Alliance, is a man of his word. In 2012, he said he planned to remain as Chairman and CEO of Nissan for five more years, and now he’s stepping down as CEO of Nissan.

Longtime Nissan executive Hiroto Saikawa, who was Nissan’s chief competitive officer until last year when he became co-CEO of Nissan and chairman of the Japanese Automobile Manufacturers Association, replaces Ghosn as Nissan CEO. Saikawa has been with Nissan since 1977.

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“The change is significant. Carlos Ghosn has been an effective and strong leader for Nissan. In some ways, the degree of success future management has will reflect how successful Ghosn was in building the strongest management team,” said Stephanie Brinley, IHS Automotive senior analyst, in an email to TheDetroitBureau. (more…)

Ghosn Likely to Lead Mitsubishi Board After Acquisition

Adding Mitsu may put Renault-Nissan at top of the sales heap.

by on Oct.19, 2016

Carlos Ghosn is likely to be named chairman of Mitsubishi Motors after Renault-Nissan acquires a controlling stake in the maker.

Renault-Nissan CEO Carlos Ghosn appears to be adding another title to his business card: Chairman of Mitsubishi Motors Corp.

The move, reported by Reuters, is expected to come after Renault-Nissan completes the $2.2 billion acquisition of a controlling stake – expected to be about 34% – in Mitsubishi in the weeks to come. Ghosn will helm a company, Mitsubishi, whose shares have fallen more than 40% this year.

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Ghosn, who helped pull Renault out of a financial ditch in the 1990s and improve Nissan’s earnings in the decade following, orchestrated the ongoing purchase of Mitsubishi after its sales plunged in the wake of its fuel economy rating crisis earlier this year. (more…)

Renault-Nissan Partnership Set to Overcome Latest Crisis, Says Ghosn

Expect a lot more consolidation in the auto industry, says Renault-Nissan CEO.

by on Oct.28, 2015

While consolidation is essential to the auto industry, it won't be easy to make work, warns Ghosn.

The 16-year-old alliance between Japan’s Nissan and France’s Renault isn’t about to break down, Carlos Ghosn, who serves as CEO of both companies, said during an appearance at the Tokyo Motor Show.

Widely considered the most successful relationship of its kind in the auto industry, questions have been raised by reports that the French government wants to raise its stake in Renault, something that could shift the power balance of the alliance. Some observers now expect Nissan – which holds no voting rights in its ally – to step in and purchase a stake in Renault.

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While Ghosn declined to address specifics, he stressed that he doesn’t see the Renault-Nissan Alliance breaking down. “From time to time you are going to have crisis, problems, divergence,” he said during his news conference, but the two companies are “aligned on the fact that the alliance has been a tremendous success.” (more…)

Nissan Needs More US Capacity, New Factory Could be in the Works

Slow March sales not like to trigger rebate war, says CEO Ghosn, who expects makers to accelerate use of new safety technology.

by on Apr.02, 2015

Carlos Ghosn said in New York today that strong U.S. sales present Nissan with a capacity problem and the maker may need a new plant.

March brought disappointing car sales for most manufacturers, but the recovery of the U.S. market hasn’t topped out, said Carlos Ghosn, CEO of the Renault-Nissan Alliance, during a NY Auto Show media roundtable. In fact, the market is strong enough to keep the Nissan brand on track to hitting a targeted 10% market share, Ghosn said.

That goal actually poses a problem for the Japanese maker, making it increasingly difficult to roll out enough vehicles from its network of North American assembly plants.

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“Without a doubt,” said Ghosn, “we are going to need more capacity in North America.” The question is whether that will come from a new assembly plant or by finding ways to boost capacity at existing facilities, such as the core factory in Smyrna, Tennessee. (more…)

Ghosn Aims to Make Renault-Nissan Alliance World’s Third-Largest Automaker

Exec sees opportunity in uncertainty.

by on Mar.04, 2015

Nissan-Renault's Carlos Ghosn said he expects his company to be the third-largest automaker in the world by 2018: supplanting GM.

No one ever accused Carlos Ghosn of lacking ambition. Ever since signing up as CEO of Nissan, and then adding its alliance partner Renault to his responsibilities, the Brazilian-born executive has been driving relentlessly to boost sales, share and profits.

And in a series of appearances at this year’s Geneva Motor Show, Ghosn laid out his most ambitious target yet. Currently fourth in the global market, he proclaimed the Renault-Nissan Alliance will become the world’s third-largest automotive group by 2018. That should have General Motors looking anxiously over its corporate shoulder, even as Toyota and Volkswagen AG fight it out for the top sales spot.

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At a roundtable appearance late during the first day of Geneva media previews, Ghosn admitted there are plenty of hurdles for both the auto industry and for Renault-Nissan itself. The European recovery has begun, albeit slowly, in part due to the drag of the slumping Russian market. But even there, Ghosn sees an upside, the “opportunity to gain marketshare” because of the Alliance’s strong manufacturing base in the heart of the former Soviet Union. (more…)

Nissan Charged Up about Battery Rumors

Maker denies any changes to powerplant program.

by on Sep.19, 2014

Nissan denied reports that it is considering cutting back on its EV-related production that has been a key component of CEO Carlos Ghosn's tenure.

Nissan officials dismissed speculation that it was preparing to scale back production at its battery plan in Smyrna, Tennessee.

Nissan spokesman Travis Parman said in an e-mail the company have no plans to make any changes in its ambitious electric vehicle program. The program has been a signature initiative of Carlos Ghosn, the chief executive at both Renault and Nissan.

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“The Renault-Nissan Alliance remains 100% committed to its industry-leading EV program. This global commitment continues for the foreseeable future, and we have not taken any decision whatsoever to modify battery sourcing allocation,” Parman wrote. (more…)