Carlos Ghosn will remain as chairman and CEO of Renault, despite being removed from positions in both Nissan and Mitsubishi. The French carmaker’s board came to the decision after an internal investigation revealed no wrongdoing or illegal activity with regards to his pay packages.
According to Autocar UK and The Guardian, the board reviewed payments made to Ghosn between 2015 and 2018, with all of them said to be “in compliance with applicable law” as well as the French corporate governance code. Currently, day-to-day operations of the company are being managed by COO Thierry Bollore.
In November, Ghosn was questioned and subsequently arrested in Japan over suspected under-reporting of his corporate salary by several hundreds of millions of yen. He was later removed from his position as chairman at both Nissan and Mitsubishi, creating uncertainty about the future of the Alliance.
Further tension was created when Renault, along with the stakeholding French government, claimed that Nissan did not provide the firm with access to details of accusations against Ghosn. Renault added that it had not yet received any information on Ghosn’s defence against the charges he is currently facing in Japan.
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