Japan's Nissan will give its French alliance partner Renault representation on its board, putting an end to a disagreement between the two car giants
ADVERTISEMENTJapanese car giant Nissan Motor Co announced that will give its French alliance partner Renault representation on its board, putting an end to a disagreement that existed between the two car manufacturers.
Nissan plans to unveil a new slate of directors that will include Renault’s chief executive Thierry Bolloré and Renault’s new chairman Jean-Dominique Senard. Renault welcomed the move as it has been calling for greater representation on Nissan's board.
The French state, which has a 15% stake in Renault, has repeatedly stressed the importance of the Renault-Nissan alliance for it to maintain a strong market position, before undertaking possible discussions on a merger with companies including Fiat-Chrysler.
The 20-year cooperation between Nissan and Renault suffered a blow after the ousting of former chairman Carlos Ghosn, who was arrested on suspicion of financial misconduct in November. Ghosn denies all the charges against him.