Posts Tagged ‘Ghosn successor process’

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…)