French car maker names replacements for CEO and chairman after the jailed executive quits his posts.
After a meeting of its board of directors, Renault has appointed Thierry Bolloré as the company's new permanent CEO.
The board has agreed to a "new governance structure ... to institute a separation of the functions of Chairman of the Board and Chief Executive Officer".
As such, Jean-Dominique Senard has been appointed to the position of chairman. Senard is currently CEO of Michelin, and will remain in that position until his contract expires in May 2019.
Interestingly, Senard will be the company's representative at the Alliance and has been given "full responsibility for managing the Alliance on behalf of Renault".
This includes being Renault's "main contact person" within the Alliance, and leading "discussion on the Alliance's organisation and evolution".
In response to the changes at the top of Renault, Nissan announced it is planning on having an extraordinary general meeting in the middle of April.
The only items on the agenda will be motions to remove Carlos Ghosn and Greg Kelly as directors, and appoint a person of Renault's choosing — likely Senard — to Nissan's board.
Ghosn and Kelly have already been stripped of their roles as representative directors, but can only be removed from the board by shareholders. Ghosn has already been removed as the chairman of Nissan, Mitsubishi and the Alliance.
Hiroto Saikawa welcomed Renault's appointments, and in a prepared statement said: "Over the past 20 years, each company has respected the other’s identity and autonomy, and by combining our strengths we have created synergies and achieved profitable growth.
"These mutually beneficial activities will not change in any way; in fact, we believe they need to accelerate. We are very pleased to be able to open a new chapter in our historic partnership."
Above: Jean-Dominique Senard, the new chairman, and Thierry Bollore, the new CEO of Renault.
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