Carlos Ghosn Resigns From Renault, Senard Becomes New Chairman, Bollore New CEO

Carlos Ghosn has resigned from his position as Chairman and CEO in Renault as expected, with the news first announced by France’s Finance Minister Bruno Le Maire at Davos.

Renault confirmed the news, saying it’s taken note of Ghosn’s resignation. The company’s board officially announced Jean-Dominique Senard as the new Chairman and Thierry Bollore as Chief Executive Officer.

Senard will now have the task of easing the relationship between Renault and Nissan, as he’ll be the main contact for the Japanese automaker and other Alliance members in the discussions on the Alliance’s future.

“It’s important that this alliance remain extremely strong,” Senard told Reuters. “It is our compulsory duty to go forward together.”

Ghosn’s resignation comes after the French government, Renault’s biggest shareholder, has reportedly started seeking a suitable replacement. Carlos Ghosn acted as Renault CEO for 14 years and as Chairman for 10 years.

He’s been charged of not disclosing over $80 million in additional income between 2010 and 2018 from Nissan. Director Greg Kelly and Nissan itself have also been charged by Japanese authorities.

Renault executives want to resume work on a new ownership structure within the Alliance, once the new management is settled.

Nissan CEO Hiroto Saikawa welcomed Renault’s management changes and started preparations for a general meeting of shareholders in April, in order to discharge Carlos Ghosn and Greg Kelly from their director positions and appoint a new director appointed by Renault.

“Over the past 20 years, each company has respected the other’s identity and autonomy, and by combining our strengths we have created synergies and achieved profitable growth,” said Saikawa. “These mutually beneficial activities will not change in any way; in fact, we believe they need to accelerate. We are very pleased to be able to open a new chapter in our historic partnership.”