Nissan, Renault Break Up Almighty Chairmanship Post Carlos Ghosn's Ouster

Court denies Ghosn's request to attend Nissan board meeting

At the height of his powers, Ghosn ran a three-way vehicle alliance between Nissan, Renault and Mitsubishi Motors that outsold all rival groups.

The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands - one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors. Currently, the alliance is managed by a Nissan-Renault venture and a Nissan-Mitsubishi Motors venture.

He declined comment on whether Ghosn, who remains on Renault's board, will be allowed to attend its meetings even if he is able to leave Japan.

This is a "new start" for the alliance, insisted the Frenchman.

Nissan appears determined to highlight new leadership without Ghosn.

However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance.

"I wonder if Mr. Ghosn has ever had any love or sense of attachment to Nissan as a company", Saikawa said.

Ghosn subsequently appealed the court decision, his lawyers said.

Senard also said he would not seek to be chairman of Nissan, but instead was a "natural candidate" to be vice-chairman. The new board, consisting of those four executives, will meet every month in Paris or Tokyo and oversee various projects, helping to make the companies' operations more efficient, they said.

In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese carmaker.

Doubts over the balance of power between Renault and Nissan had been growing after Ghosn's departure.

The heads of the partners will hold a press briefing at Nissan's Yokohama headquarters on Tuesday, Nissan said. Prior to this, there had been discussions on a full merger of Nissan and Renault, but it's not clear whether this will go ahead. "And the to respect people and consider them innocent as long as it has not been proven differently". Nissan owns 15 percent of Renault, and a 34 percent stake in Mitsubishi Motors.

Ghosn, who has not spoken to media since his release, put in a request with a Tokyo court on Monday to attend Nissan's board meeting the next day, but he was not given permission. He is also charged with aggravated breach of trust for having transferred personal losses of 1.85 billion yen from derivatives contracts to Nissan, and having the automaker pay $14.7 million to a Saudi businessman who extended credit to him.

A decision at a shareholders' meeting is needed to remove Ghosn from the board.



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