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French government calls for Renault board meeting to replace Ghosn

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Renault had no choice.

The Fr Govm't , the Renault Union and the increasingly alarming disclosures ( of which the French public is informed of) of Ghosn's misappropriation of funds forced Renault's hand.

5 ( +10 / -5 )

.

Nissan & Inc. would not move forward around discussions until Renault acknowledges Ghosn needs to let go / replaced.

6 ( +10 / -4 )

This isn't the end of story, believe me.

-6 ( +2 / -8 )

@Akie

Ghosn definitely has hidden load of dirty money. There cant be an end to it. He better stays where he is now.

0 ( +9 / -9 )

French Finance Minister Bruno Le Maire said on Wednesday the government had requested a Renault board meeting in coming days to replace the company's scandal-hit Chairman and Chief Executive Carlos Ghosn.

That's it Saikawa already won, new person that who will replace Ghosn can not have better knowledge better about Nissan than Ghosn. This will lead to Saikawa advantage.

10 ( +11 / -1 )

I agree with you @sakurasuki

Lucky for Nissan there even was somebody like HIROTO SAIKAWA, Carlos Ghosn tried to be both CEO &CHAIRMAN , at all companies so he alone had knowledge and money, to make him never be replaced.

He was one big bully man !

2 ( +9 / -7 )

A full merger as promoted by Ghosn would eliminate at a stroke the power imbalance, as all internally held shares (Renault's stake in Nissan and vice versa) would be cancelled. Majority (non-Renault) shareholders of Nissan would hold a majority of the combined entity.

Some remarkable know-nothing Saikawa cheerleaders out there!

-6 ( +3 / -9 )

Good on the French government to finally admit Ghosn committed some truly shocking crimes. Although the French government's dallying over this highlights their vast incompetence, as shown by the yellow vest protests in Paris. Very uncivilized

2 ( +7 / -5 )

Hmmmm the yellow vest protest was again carbon tax on diesel,Macron wants to lower emissions, but you try and wean humans off fossil fuel, its going to be very hard, also I hope The Prosecutors are also Industrialists and Engineers, because they have to ask questions and learn quickly not just about bad Board of Directors, but How to Actually Run a Company the size of NISSAN, otherwise you won't lose eighty million you will lose eighty trillion dollars, if you lose NISSAN.

So I hope Carlos Ghosn stay healthy, we may need him.

-6 ( +1 / -7 )

Ghosn has already planned to retire when Saikawa messed up everything with the inspection scandal and the 20% reduction in sales in November. He is back in Tokyo to fire him when the tables got turned. He wasn't guilty yet; Renault is just changing the Chairman for business as usual to allow things to move forward; that doesn't mean he isn't removed from the board, and that means Renault is still keeping him around.

Shiga retires, Munoz resigns, their new car stalls at Detroit auto show. Rats bailing from a sinking ship of incompetent blamers.

6 ( +7 / -1 )

Nikkei ran an article that claims that this is a scheme by NISSAN executives to stop Renault from taking over. They knew Ghosn and plans to do it this year.

The original Japanese article can’t even get to without paying.

https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Nissan-Renault-alliance-sinks-deeper-into-disarray-without-Ghosn

You can use "incognito" in Firefox browser.

-3 ( +2 / -5 )

@Silvafan : I think it is even much further back.

Macron was probably the one who used the French govt shares in Renault to pressure Ghosn into the merger. Now he is saving his own skin and political legacy.

https://www.reuters.com/article/us-nissan-ghosn-renault-macron-insight/seeds-of-renault-nissan-crisis-sown-in-macrons-raid-idUSKCN1NX1GK

-4 ( +0 / -4 )

@matsudakehiromi

Sorry too much happening for me ;

Shiga retires, Munoz resigns, their new car stalls at Detroit auto show. Rats bailing from a sinking ship of incompetent blamers.

I think the Infiniti had a flat battery, not sure who Shiga was, but maybe they need Carlos Ghosn back as a consultant on set wages.

-8 ( +1 / -9 )

This is a totally unfair situation, Well, bad choices made. I will not buy Nissan or Renault. talking abt strange bed fellows.

-3 ( +5 / -8 )

This is a totally unfair situation, Well, bad choices made. I will not buy Nissan or Renault. talking abt strange bed fellows

I agree.

-5 ( +3 / -8 )

Good on the French government to finally admit Ghosn committed some truly shocking crimes. 

You are reading far too much into its actions.

In fact, reading this sentence I could repudiate almost every word within it.

-3 ( +2 / -5 )

There must have been enough evidence much earlier for France and others to even consider replacement.

However, the current issue of replacement for Nissan as with other Japanese automakers is whether to "hire" other than Japanese for such executive positions.

It appears that Japan does have "qualified" top executives.

However, it also seem to indicate because the Japanese companies do not allow for and do not encourage contact of top executives with foreign counterparts, they do not have the "network" of influential (both over and covert) contacts that can communicate with and the clout to influence foreign companies and countries enough to get the kind of results they need or want. Much of that is probably due to cultural differences, but most likely a lack of strong communication skills that shows "real" commitment on the part of the executive and the company.

-6 ( +0 / -6 )

French are a sellout.. they could of saved Carlos and at the same time our judicial system would be changed in the international spotlight... French President just for him to talk to Abe to release him, would of been a manly thing to do..

-5 ( +3 / -8 )

Where there's smoke there's fire!

0 ( +2 / -2 )

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