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.

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  • Six_Tymes

    The french government are idiots

    • ➡️ProtectOurHeritage⬅️

      I’m not a fan of the French government, but that’s really rich coming from you! Perhaps you should really go look in the mirror? This has all come about because the Japanese are very frightened they will lose control over the company if it had properly merged with Renault as Ghosn has desired.

      • Mr. EP9

        I heard the French government pushed Ghosn to do so. Or was that merely a rumor?

        • ➡️ProtectOurHeritage⬅️

          The French Economy Minister has indeed told the media that it is time for new leadership at Renault. However, we should remember that the French Government owns 15.3% of Renault so this is a subject that is in the “national interest” of the French people – how every socialist! If the Japanese story, however false it may be, affects the image of the Renault brand too much, they won’t hesitate to ditch Ghosn, whether he is innocent or not.

      • Liam Paul

        It’s a shame the japanese are doing this to the man that saved Nissan from becoming a page in history and imo , he would have saved mitsubishi,, so much for that brands chance now, I think if I was someone high in the automotive world, I would never consider working for a japanese auto brand . It’s also interesting how this all is shining a light on how unfair the japanese legal system is. I can’t understand why any person would even consider having a vacation or working in japan..

        • Adam

          So he broke the law but because he saved a company he should be set free? I think the Japanese are setting an excellent precedent in that just because one has money that should not allow them to circumvent the system. He broke the law and is paying the price. Quite cut and dry really.

          • Astonman

            Guilty until proven innocent? That doesn’t sound fair.

          • Adam

            Not at all. If it was someone without money then they couldn’t afford bail but because the rich have money they usually get out in bail. This time they’ve evened up the playing field. Also, in Japan the culture of ‘shame’ is abhorrent to them so he has brought shame upon them and is paying for it. Considering how much they have on him he’s obviously guilty or they would have let him out.

          • Astonman

            Rich or not has nothing to do with it. in our society – you’re innocent until proven guilty. You will understand if a day comes you are accused of something that you did not do and you have to stay in jail until you prove your case. Then you will understand. And people are accused of crimes everyday that they did not commit.

          • Adam

            You obviously don’t get my point. Oh well, clearly you’re guilty of not understanding… off to gaol you go 😉

          • Astonman

            Huh?…

        • ➡️ProtectOurHeritage⬅️

          Most travel advice from Western Governments show that Japanese law is always skewed against foreigners, which Ghosn is in Japan. Look at the corporate scandals at Takata, Olympus, Toshiba, etc.

  • AMG44

    Carlos Ghosn the man who turned around Renault-Nissan. This is a sad departure for one of the most successful leader in automotive world.

  • blunt-o

    Nissan probably knew already about Ghosn’s mischief a long time ago, or even allowed it, one way or the other, to be able to sack him and Renault when necessary. Millions of dollars over years, with no one noticing until now ?

    Give me a break.

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