Renault ousts CEO Thierry Bolloré

Friday, October 11, 2019

French carmaker Renault dismissed its chief executive officer today, overhauling its leadership once again after the jailing of its previous chairman and CEO.

It came days after Nissan, with which Renault shares a deep alliance, named a new CEO, indicating the two companies were intent on cleaning house after a scandal over former chief Carlos Ghosn rattled their upper ranks.

The decision by the board to dismiss Thierry Bolloré was effective immediately.

Bolloré replaced Ghosn after the former CEO was jailed in Tokyo in last November on charges of falsifying financial reports in under-reporting compensation and breach of trust. Ghosn, who led the Nissan-Renault alliance, is currently awaiting trial and denies wrongdoing.

The company said Bolloré will be replaced on an interim basis by current Chief Financial Officer Clotilde Delbos.

Chairman Jean-Dominique Senard will become president during the interim period.

Renault owns 43 percent of Nissan but their alliance came under strain after Ghosn’s jailing. Renault considered a merger offer from Fiat Chrysler Automobiles that would have created the world’s third-largest automaker, but the talks fell apart due to concern over Nissan’s role.-AP