Skip advert
Advertisement

Thierry Bolloré ousted as Renault chief executive

Renault chief executive Thierry Bolloré has been removed from his post, following a vote by the brand’s board to choose his replacement.

Thierry Bollore

The news clarifies an official brand statement, which says that the board would meet “to discuss the corporate governance of the group.”

The move is believed to appease alliance partner Nissan, as Bolloré was closely associated with ex-Group CEO Carlos Ghosn. Ghosn was arrested last November following claims of financial misconduct. He is due to appear in court next year, facing charges in Japan that he used Nissan funds for personal use and that he inflated his own pay.

Advertisement - Article continues below

Nissan factories "unsustainable" under no deal Brexit

Any moves to remove ties from Ghosn are seen as vital to the future of the group, giving the instability on financial markets brought to the Alliance as a result of his arrest. Renaut’s share price fell by 20 per cent following the news, while Nissan’s has dropped by 35 per cent. Renault has a 43 per cent stake in Nissan, while Nissan has a 15 percent stake in Renault

The news follows on the recent announcement that Nissan announced a new chief executive. Makoto Uchida, formerly heading up the brand’s Chinese operations, took the place of Hiroto Saikawa who was ousted in September following a pay row in his role at the manufacturer. Ex Michelin CFO and managing general partner Jean-Dominique Senard was appointed as Ghosn’s replacement in January.

Following on from Bolloré’s departure, current chief financial officer Clotilde Delbos has taken his place in the interim.

Are you worried abotu the future of Renault? Let us know in the comments below...

Skip advert
Advertisement
Chief reviewer

Alex joined Auto Express as staff writer in early 2018, helping out with news, drives, features, and the occasional sports report. His current role of Chief reviewer sees him head up our road test team, which gives readers the full lowdown on our comparison tests.

Skip advert
Advertisement

Recommended

Best speedsters: the top 9 roofless wonders for intensity and style
Best Speedsters - header image
Best cars & vans

Best speedsters: the top 9 roofless wonders for intensity and style

For some, these cars are the ultimate in no-compromise motoring, but would you splash out a fortune on one?
14 Apr 2024
Renault and Volvo to create ‘revolutionary’ next-generation Flexis electric vans
Volvo and Renault Flexis van range
News

Renault and Volvo to create ‘revolutionary’ next-generation Flexis electric vans

The companies will work together to create a family of electric vans based on an EV-dedicated skateboard platform
4 Apr 2024
Hydrogen and efuel cars can help save the European auto industry, says Renault boss
Renault boss, Luca de Meo, stood next to Renault 5
News

Hydrogen and efuel cars can help save the European auto industry, says Renault boss

Renault boss, Luca de Meo’s strategy to save Europe’s car industry includes a bigger role for hydrogen
21 Mar 2024
Stop regulating us out of business and make a plan: Renault boss attacks politicians
Luca De Meo - Renault
News

Stop regulating us out of business and make a plan: Renault boss attacks politicians

As cheap Chinese EVs pose an existential risk to the car industry, a top French exec warns political leaders that leaders ‘the prosperity of Europe is…
19 Mar 2024

Most Popular

Mercedes says ‘no thank you’ to EQ: EV brand to be axed
Mercedes-AMG EQS 53 - EQS badge
News

Mercedes says ‘no thank you’ to EQ: EV brand to be axed

Mercedes will roll back EQ branding for its electric cars as the first generation of EV models reaches the end of its lifecycle.
15 May 2024
Ooh la la: new DS flagship to get inspiration from world’s coolest car
DS flagship - exclusive image
News

Ooh la la: new DS flagship to get inspiration from world’s coolest car

The iconic Citroen DS was voted the world’s coolest car by our readers and now DS is aiming for the same success with its new premium flagship
15 May 2024
UK faces “epidemic” of young uninsured drivers
Car crash
News

UK faces “epidemic” of young uninsured drivers

The number of young people convicted of driving without insurance has tripled since 2021, due to sky-rocketing premiums
17 May 2024