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21 Feb 2020, Edition - 1683, Friday

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Renault asks Carlos Ghosn to stay on as chief executive


French car giant Renault has asked Carlos Ghosn to stay on as chief executive for a further four years.

There had been some speculation that he would relinquish his role as head of the firm  a position he has held since 2005.

Shareholders will vote on Mr Ghosn’s reappointment at a meeting in June.

If approved, he would also remain on as head of the Japanese French alliance between Renault, Nissan and Mitsubishi.

The newly-formed tie up claimed it was the world’s biggest automotive group, after it sold 10.61 million cars in 2017.

Renault’s board said it wanted Mr Ghosn to “take decisive steps to make the alliance irreversible”, as well as drive Renault’s 2022 growth plans, and shore up its succession plans.

On Wednesday, the firm also said Thierry Bolloré had been appointed as Renault’s chief operating officer  a position he will take up next week.

Mr Bolloré was already a senior Renault executive, and is now expected to eventually succeed Mr Ghosn.

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Carlos Ghosn refocuses Nissan role

Renault, which has been making cars for over a century, created an alliance with Nissan in 1999.

The Renault-Nissan-Mitsubishi alliance adopted its current name in September 2017, about a year after Nissan took a controlling interest in Mitsubishi.

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