Renault Ousts CEO Who Replaced Jailed Former Chief Carlos Ghosn

Renault dismissed the CEO who replaced former CEO Carlos Ghosn, jailed for falsifying financial report.

French carmaker Renault has dismissed its chief executive officer, overhauling its leadership once again after the jailing of its previous chairman and CEO. The decision by the board on 11, October 2019, to dismiss Thierry Bollore was effective immediately.

( Photo:AP)

French carmaker Renault dismissed its chief executive officer on Friday, overhauling its leadership once again after the jailing of its previous chairman and CEO.

It came days after Nissan, with which Renault shares a deep alliance, named a new CEO, indicating the companies were intent on cleaning house after a scandal over former chief Carlos Ghosn rattled their upper ranks.

The decision by Renault's board to dismiss Thierry Bolloré was effective immediately.

Bolloré replaced Ghosn after the former CEO was jailed in Tokyo last November on charges of falsifying financial reports in under-reporting compensation and breach of trust. Ghosn, who led both companies and the Nissan-Renault alliance, is currently awaiting trial and denies wrongdoing.

The company said Bolloré will be replaced on an interim basis by current Chief Financial Officer Clotilde Delbos. Chairman Jean-Dominique Senard will become president during the interim period.

Renault owns 43% of Nissan but their alliance came under strain after Ghosn’s jailing. Renault considered a merger offer from Fiat Chrysler Automobiles that would have created the world’s third-largest automaker, but the talks fell apart due to concern over Nissan’s role.

Bollore told French publication Les Echos ahead of the announcement that the board's move to oust him came as a surprise. He said he found out Senard wanted him gone from media reports after he flew back to Paris from Tokyo in the early hours of Wednesday.

"The brutality and the totally unexpected nature of what is about to happen is stupefying," he said, adding "I was always loyal to him."

Responding to a question about Renault's poor performance since he took the top post in January, he emphasized the strategic partnerships the company entered into with Google and Waymo under his watch.

"What is at stake is not me personally but the future of Renault and its 186,000 employees," he told Les Echos.