Renault could reduce Nissan stake to revive Fiat Chrysler merger - report
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Renault and Nissan are reportedly in talks to rebalance their alliance with the aim of restarting Renault's proposed merger with Fiat Chrysler (FCA).
Sources have told The Wall Street Journal about the discussions, which centre around plans to reduce Renault's 43.4 per cent shareholding in Nissan.
Any reduction in Renault's Nissan stake would require the approval of the French government, which holds a 15 per cent share and supersized voting rights in the French automaker.
Departments overseeing Nissan and Renault cooperation being axed - report
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Departments overseeing cooperation between Nissan and Renault are reportedly losing staff, or have nothing to do.
Sources have told the Financial Times the departments within the Renault-Nissan-Mitsubishi Alliance overseeing cooperation and joint functions are either being axed completely, or have gone without work assignments for months.
The alliance departments overseeing sales and marketing, communications, and light commercial vehicles are said to be shrinking and dismissing staff.
Fiat Chrysler in discussions with Renault, could join alliance with Nissan - report
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Discussions initially focussed on Fiat Chrysler (FCA) using platforms and technologies from Renault have reportedly morphed into something more complex and wide-ranging.
Multiple sources have told The Financial Times the talks between FCA and Renault are on-going, with a lot of structures and options currently being evaluated.
The sources have cautioned the discussions could still fall apart and yield no deal.
Renault-Nissan-Mitsubishi Alliance agrees to new management structure
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The heads of Renault, Nissan and Mitsubishi Motors have agreed to form of a new board of management for the three-headed automaking alliance.
As part of the deal agreed to in Tokyo, the "New Start" board will be chaired by Jean-Dominique Senard, chairman of Renault.
The other members of the board will be Thierry Bollore, CEO of Renault; Hiroto Saikawa, CEO of Nissan; and Osamu Masuko, CEO of Mitsubishi Motors.
Carlos Ghosn, the man who once headed up Renault, Nissan and Mitsubishi Motors, has decided to quit as the chairman and CEO of Renault.
After a meeting of its board of directors, Renault has appointed Thierry Bolloré as the company's new permanent CEO.Bolloré was elevated from chief operating officer to interim CEO after Ghosn was arrested in Japan in November 2018.
