Nissan Doesn't Want The Same Chairman With Alliance Partner Renault


Nissan Doesn't Want The Same Chairman With Alliance Partner Renault

Nissan would resist the appointment of Renault's new Chairman Jean-Dominique Senard as its own Chairman as well, according to the latest reports.

If its French ally suggests placing Senard as a Chairman at both companies, as it was the case with Carlos Ghosn, Nissan will not support the proposal, according to Bloomberg that cites an inside source with knowledge of the matter.

Former Chairman Carlos Ghosn, who remains jailed in Japan accused of financial misconduct, enforced a common vision for the two automakers and now Nissan is seeking to change the alliance’s governance.

Nissan CEO Hiroto Saikawa has already been critical of Ghosn, saying he had too much authority and made decisions that weren’t in the best interest of Nissan.

"Discussions on this topic will take place after the special committee for improving governance submits its recommendations, and after Mr. Senard has officially joined Nissan’s board," Nissan said in a statement.

Senard’s first contact with Saikawa has reportedly gone well but Nissan doesn’t want him as their own Chairman because the Japanese company is worried about a conflict of interest. Nissan has a 15 percent non-voting stake in Renault, while the French automaker has a 43 percent voting stake in Nissan.

The French government has a 15 percent stake in Renault and is the company’s most powerful shareholder. Citing another source, the report goes on saying that the French government’s position is to let Nissan’s board to decide its next Chairman.

Nissan is nevertheless going to appoint Jean-Dominique Senard as a director to its board after a shareholder vote on April 8.