Renault ousts CEO in bid to reboot alliance with Nissan

Thierry Bollore     FILE PHOTO / REUTERS

RENAULT on Friday last week ousted chief executive Thierry Bollore as the carmaker and its partner Nissan seek to rekindle their alliance following the scandal-hit tenure of former alliance head Carlos Ghosn, news agency Reuters reported.

Tensions between Renault and Nissan, which picked a new CEO on October 8,, have been high since Ghosn’s arrest in Tokyo last year on allegations of financial misconduct — which he denies.

Bollore, who was close to Ghosn, will be temporarily replaced by Renault finance director Clotilde Delbos. With the leadership change, Renault chairman Jean-Dominique Senard is hoping to draw a line under almost a year of turmoil and revive cooperation between two carmakers once seen as destined to fully merge.

That is vital at a time when auto markets are slowing and carmakers are having to invest in costly new technologies, as well as meet challenging European emissions regulations.

“We’re at a new stage now for this alliance. Sometimes you need new management … to breathe new life into things,” Senard, who was brought in earlier this year from tire maker Michelin, told a news conference in Paris.

He said three members of Renault’s 18-strong board abstained in the vote to remove Bollore, who hit out at his looming dismissal in a newspaper interview the night before, calling it a coup.

Following Ghosn’s arrest was stagnation in Renault-Nissan projects, including on issues such as advancing on cost savings, Renault personnel said. Rebooting these would now be the first priority, according to a source close to the carmaker.

“There are a lot of concrete matters that have already been identified, including on the industrial front — working on batteries, electric vehicles, connectivity, purchasing and self-driving cars,” the source said.

Tensions between Renault and Nissan escalated further this year after various spats over governance reforms and after a failed deal to pair Renault up with Fiat Chrysler.