Renault Could Replace CEO Thierry Bollore In Governance Shakeup

Renault may seek to replace current CEO Thierry Bollore in its next board meeting in a bid to further improve its relations with alliance partner Nissan.

The report comes from French newspaper Le Figaro, saying that Renault Chairman Jean-Dominique Senard will ask the board to begin the search for a successor to Bollore in the next board meeting scheduled for October 18.

Bollore was close to former Renault and Nissan Chairman Carlos Ghosn, expressing support for his former boss after he was arrested in Japan over alleged financial misconduct, condemning the arrest as a conspiracy from Nissan – which didn’t go well with the Japanese car maker.

Also Read: Nissan Appoints China Boss Makoto Uchida As Their New CEO

Nissan doesn’t trust Bollore while his relationship with Senard is described as just courteous, according to Les Echos. Many Renault executives are wondering why Bollore, an ally of Ghosn, remained in charge of the company when other confidants have left or been forced out.

A number of Renault’s top executives also left the company recently, with many of them heading to rival PSA, indicating that relations with Bollore are not what they should be. Former alliance vice president Arnaud Deboeuf quit from the company to join PSA as industrial strategy director, blaming directly Bollore for forcing his exit.

Any change in the way Renault is governed could help repair the relationship with alliance partner Nissan, which also named Makoto Uchida as its new CEO, replacing Hiroto Saikawa who resigned after admitting that he received improper payments.