Carlos Ghosn has resigned as Renault Chairman and Chief Executive Officer, amid his ongoing detention in Tokyo over alleged financial misconduct.
Ghosn was arrested in Japan last November on charges relating to under-reporting his salary and passing personal investment losses onto Nissan.
The establishment of the Renault-Nissan Alliance, which was expanded to include Mitsubishi in recent years, meant Ghosn held leading positions at all three manufacturers.
Both Nissan and Mitsubishi sacked Ghosn as the scandal unfolded last November but Renault, in which the French government holds the largest stake, at 15 per cent, kept hold of his services.
Ghosn appeared in court in Tokyo earlier this month and insisted he had been “wrongly accused and unfairly detained,” but was denied bail, meaning he is likely to remain incarcerated for several months as he awaits trial.
That ultimately proved terminal to his prospects of remaining at the helm of Renault and he has now resigned.
Renault’s board met on Thursday to formally accept Ghosn’s resignation and outline his successors.
Deputy CEO Thierry Bollore will replace Ghosn as CEO while Michelin chief Jean-Dominique Senard will take over the Chairmanship.
Ghosn’s departure is unlikely to have a short-term impact on Renault’s Formula 1 programme but he was regarded as one of the key architects behind its return as a works team in 2015.
Ghosn was widely credited with turning around the fortunes of Renault’s South American division in the late 1990s and reached near-hero status in Japan for his subsequent role in reviving the ailing Nissan brand.
Ghosn’s resignation comes after Renault Sport President Jerome Stoll ultimately remained in place after planned successor Thierry Koskas left, with no reason provided for his exit.
Discussion about this post