Falsely accused Renault execs to get 9.1 mln euros – report

08/04/11 15:56 CET

corporate

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The three Renault executives who were falsely accused of industrial espionage are reportedly to get 9.1 million euros in compensation for the damage to their reputations.

A report in the French magazine Marianne said that including payments for unfair dismissal the fiasco will cost Renault 11.2 million euros.

The company refused to comment on the report, saying negotiations are continuing.

Renault Chief Executive Carlos Ghosn and other top bosses have pledged to forgo their bonuses after the Paris prosecutor ruled the spy case was unfounded.

Renault fired the three men in January on suspicion of industrial espionage. They denied any wrongdoing from the start and began legal action against the French carmaker.

A Renault security manager is now being investigated for suspected fraud concerning the spying allegations.

More about: Car industry, Electric cars, Espionage, France, Renault

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