latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/54834603 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In This List

Hires and fires at Nissan, Renault: Finale or cliffhanger?

S&P Global Market Intelligence

Cannabis Hashing Out a Budding Industry

The Market Intelligence Platform


Hires and fires at Nissan, Renault: Finale or cliffhanger?

If truth really is stranger than fiction, then the soap opera unfolding within the Nissan Motor Co. Ltd.- Renault SA alliance is starting to look worthy of its own box set.

SNL Image

Former Renault CEO Thierry Bolloré
Source: AP Photo

In last week's installment, Nissan appointed Makoto Uchida, head of its China operations, as its next CEO. Days later, Renault CEO Thierry Bolloré, who stepped into the job in January to help patch up a souring relationship with its Japanese partner, was unceremoniously dismissed by Chairman Jean-Dominique Senard.

It is the latest twist in a storyline of ego, deceit — and now, apparently, betrayal — that began almost 12 months ago with the arrest of "Car Tsar" Carlos Ghosn, who forged and ran the alliance in a reputedly autocratic style for about two decades but was brought down by whistleblower allegations of financial misconduct.

Echoing Ghosn's ignominious arrest on a runway in Tokyo after jetting in from Paris, Bolloré told Les Echos he learned of his own imminent ouster upon landing in the French capital at dawn last Wednesday on a flight in the opposite direction.

Analysts suggest Bolloré was collateral damage in the delicate process of rebuilding trust between the two companies. His removal was Renault's attempt to show good faith after Nissan's purge of its own uppermost echelons of Ghosn-era executives, one analyst said.

Bolloré denounced his ouster as a "coup" and Chairman Senard made little effort to dress it up as much else at a press conference on Oct. 11, hours after the decision was confirmed and at which he presented a "surprised" CFO Clotilde Delbos to reporters as interim CEO.

"There comes a time for a company, when it's necessary to find a new impetus and I think that was the case for Renault," Senard said. "Once again, there was nothing personal."

So does the show end here, or will there be a sequel? There is much work to be done to repair the damage of the last year, but one ending an audience of analysts have ruled out is a divorce. As in many a Dallas or Dynasty storyline, the spouses may no longer love each other, but in an increasingly cutthroat industry, a love gone cold still looks preferable to the unfathomably bleak prospect of going it alone.

Chart of the week: Food at home price index

SNL Image

Automotive

Renault replaces CEO Thierry Bolloré after less than one year in the job

The board of directors has appointed CFO Clotilde Delbos as interim CEO, just days after alliance partner Nissan named its own new leadership.

Subprime auto market still marked by growth, fragmentation

As another privately held subprime auto lender makes its ABS market debut, more established market participants have demonstrated acceleration in their managed portfolio growth rates.

Li-ion kings: Lithium-ion battery scientists win Nobel Prize in chemistry

Professors John Goodenough, Stanley Whittingham and Akira Yoshino "created a rechargeable world" with batteries that "laid the foundation of a wireless, fossil fuel-free society," according to The Royal Swedish Academy of Sciences.

Retail

Flipkart is No. 1 in India but faces formidable foe in Amazon, say experts

Amazon has invested an estimated $10 billion in the country since 2013. Meanwhile, Walmart has gained nearly 40% of the Indian market through its majority stake in Flipkart.

US retail imports expected to increase in November ahead of China tariffs

The National Retail Federation forecast November's imports to reach 1.97 million 20-foot equivalent units.

Strong US holiday sales predicted amid economic, geopolitical concerns

Trade spats, recession worries and concerns over an impeachment inquiry into President Donald Trump cast a shadow over otherwise optimistic predictions for the 2019 holiday shopping period.

87 US Forever 21 stores slated for possible closure at REIT properties

Chart Watch: Forever 21 identified 178 U.S. properties it has slated for potential closure. Paris-based Unibail-Rodamco-Westfield has the highest exposure to the stores that could be closed.

Food, Beverage & Tobacco

Food in Focus: Wholesale prices continue rising faster than retail

The disparity continued for the fourth month in a row in September.

Buying renewables a 'no-brainer' for world's 2nd-largest brewer

Heineken says improving renewables economics means buying wind and solar power for the company's global operations is the right call, but decarbonizing supply chains will be a tough task.

US, China reach partial deal to boost American farm exports, delay US tariffs

The partial deal includes China's commitment to purchase $40 billion-$50 billion in U.S. farm goods and the suspension of a U.S. tariff spike slated to go into effect next week, the White House announced Oct. 11.

S&P 500 Consumer Staples and Discretionary indices

SNL Image

Consumer Edge is a weekly collection of critical developments across the automotive; retail; and food, beverage, and tobacco industries. Drawing on exclusive analysis and value-added content from the Consumer News team at S&P Global Market Intelligence, it is published every Thursday.