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Nissan CEO admits differences with Renault over reforms
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IANS | 13 Jun, 2019
Nissan Motor's chief executive Hiroto Saikawa on Thursday said his
company had differences of opinion with Renault over of the Japanese
carmaker's corporate reform plans and the two sides were discussing the
issue.
Saikawa's remarks come amid the latest round of friction
in the alliance between the two companies and another Japanese firm,
Mitsubishi, after the situation was discussed at the Renault general
shareholders' meeting in Paris on Wednesday, Efe news reported.
At
the meeting, Renault Chairman Jean-Dominique Senard explained the
French firm's decision to abstain from voting over an important
corporate reform in the Japanese company set to take place on June 25.
Renault owns 43.4 per cent of Nissan stocks.
The reform seeks to generate a corporate model with checks and balances to ensure a strong management at Nissan.
Senard
said Renault decided to back out after learning that according to the
plan, Renault CEO Thierry Bollore would not be included in the governing
committee of Nissan. It would be enough to add Bollore to the committee
to get a green light from the French company, he added.
Saikawa
said the two companies had slightly different opinions over nominations
to the committee and told Japanese media they were discussing the
matter.
On Monday, the Japanese carmaker said Renault's decision
to not to back reforms was "most regrettable". The reform plan was
prepared over many months after Carlos Ghosn stepped down as the CEO due
to his arrest on charges of financial misconduct.
The new board
reforms were recommended by an independent committee, tasked with
reviewing in depth the structures of the company after complaints by
Japanese directors over concentration of power in the hands of Ghosn
when he headed the company.
The new model seeks to create three
governing committees to oversee corporate appointments, directors'
salaries and internal audits to prevent the apparent internal chaos
attributed to Ghosn's leadership.
Ghosn's downfall brought out
differences between the two companies over the future of the alliance
and the power-sharing within it.
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