Nissan Reportedly Denies Renault’s Request For Shareholder Meeting

Nissan has reportedly denied a request from Renault for a shareholders’ meeting, according to an inside anonymous source.

Bloomberg reports that the Japanese company said in a letter that there was no need for a meeting, as an answer to Renault deputy chief Thierry Bollore’s request for one.

Renault currently owns 43 percent of Nissan and has the right to call a meeting but Nissan’s executives are trying to convince the French car maker not to, said the source.

Last Monday, Nissan’s CEO Hiroto Saikawa said that they prefer to wait for a report by their newly-created governance committee before deciding to hold a shareholders’ meeting.

Tensions appear to have risen between Nissan and Renault following Ghosn’s arrest over the allegation of financial misconduct. Nissan was quick to dismiss Ghosn from his post as chairman while Renault keeps requesting for more information on the case against him.

Japanese authorities have officially charged Ghosn and Nissan for under-reporting his compensation. Renault is pushing Nissan to call for a meeting in order to discuss the case, as well as the Japanese car maker’s governance and their own appointees on Nissan’s board, according to people familiar with the matter.

Executives from Renault, Nissan and Mitsubishi met in Amsterdam recently for the second time since Ghosn’s arrest. Even though Nissan’s CEO attended the meeting, sources say that he didn’t hold a personal meeting with Bollore, who currently acts as Renault’s interim chairman.