Renault to start search for new CEO: Le Figaro

This post was originally published on this site

PARIS (Reuters) – The chairman of the French carmaker Renault (PA:) will propose to its board of directors to find a successor to current Chief Executive Thierry Bollore, business daily Le Figaro reported on Tuesday, citing sources.

According to the report, the succession proposal could be on the agenda of the next board meeting on Oct. 18.

Renault did not immediately respond to requests for comment.

The French state owns a 15 percent stake in Renault. A spokesman for the finance ministry declined to comment.

Nissan Motor Co (T:) on Tuesday named a new chief executive known for close ties to Renault, its top shareholder in a bid to turn a page after a management scandal involving Carlos Ghosn.

The two automakers have been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of Nissan’s CEO Hiroto Saikawa after he admitted to being improperly overpaid.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.