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Report: Renault to unveil new leadership as Ghosn remains incarcerated

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Report: Renault to unveil new leadership as Ghosn remains incarcerated

Renault SA is expected to name a new Chairman and CEO on Jan. 20 in a move that could oust Carlos Ghosn, who still holds these roles despite being in jail, the Nikkei Asian Review reported Jan. 16, citing multiple French media reports.

COO Thierry Bollore, who is temporarily leading the automaker, could be named CEO while Michelin CEO Jean-Dominique Senard may be appointed Chairman, French newspaper Le Figaro reported. In a separate article, Les Echos said Toyota Motor Corp. Executive Vice President Didier Leroy is also among Renault's CEO choices.

Renault had decided to keep Ghosn as Chairman and CEO even after its alliance partners Nissan Motor Co. Ltd. and Mitsubishi Motors Corp. removed the executive from his posts, following allegations of financial misconduct against him.

French Finance Minister Bruno Le Maire had said in November that Ghosn is no longer in a position to lead Renault. The French government is the company's largest shareholder with a 15% stake.

Renault has reportedly sent Martin Vial, a director of the company, and other executives to Japan to prepare Nissan and the Japanese government for the move.

Until his trial begins, which may not happen for at least six months, Ghosn will remain in custody.