Carlos Ghosn Discussing Terms Of Resignation With Renault

Carlos Ghosn has reportedly agreed to resign from Renault and the two parties are currently discussing the terms of his departure from the French car maker, according to the latest reports.

Citing three sources familiar with the matter, Reuters reports that Ghosn agreed to resign from Renault only after the French government’s call for a leadership change and the Japanese court rejected once again his bail request.

Renault board members are currently negotiating with Ghosn’s legal team over issues about his non-competition agreement and pension benefits, Bloomberg reports. Ghosn, who still is Renaullt’s Chairman and CEO, has already been ousted from his Chairman position in Nissan and Mitsubishi.

The French carmaker’s board will meet on Thursday to appoint a new Chairman and a new CEO. According to inside sources, Michelin chief Jean-Dominique Senard will be appointed Renault’s Chairman while Thierry Bollore will be named CEO.

Carlos Ghosn is being charged of under-reporting his compensation from Nissan in Japan, accused of not disclosing over $80 million of additional income from the Japanese car maker between 2010 and 2018.

The accused CEO’s latest bail application was rejected by the court, despite promising to stay in Japan, handing over his passports, wear an electronic tracker and be monitored by private security guards at his own expense.