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French finance minister says up to Renault's board to decide on management changes

French finance minister says up to Renault's board to decide on management changes
FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau -
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REGIS DUVIGNAU(Reuters)
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LUXEMBURG (Reuters) – It was not up to the French state to interfere in management decisions at Renault <RENA.PA>, France’s Finance minister said on Wednesday, following a report in business daily Le Figaro that the carmaker’s CEO Thierry Bollore may be replaced soon.

Speaking on the sidelines of a European Union’s finance ministers meeting, Bruno Le Maire said he had full confidence in Renault’s chairman and board to choose the best governance and people to implement the company’s strategy.

“We have full confidence in Jean-Dominique Senard and Renault’s board to choose the best governance and people that will apply the industrial strategy that the state has defined for its technological transformation,” Le Maire said.

The state owns a 15% stake in Renault.

(Reporting Francesco Guarascio; Writing by Benoit Van Overstraeten; Editing by Sarah White)

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