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As of 00:09 21 Jan 2019
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15,478.67 million
As of 00:09 21 Jan 2019

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Renault could replace Carlos Ghosn-reports

Carlos Ghosn in Switzerland in 2017
Getty Images

French Renault is moving to replace its boss Carlos Ghosn who is in prison and faces charges of financial misconduct and breach of trust, according to media reports.

The French government, which has a 15% stake in Renault, has requested a board meeting to consider candidates to replace him, Reuters reported, citing sources. Media reports suggest a board meeting could take place around the weekend.

Mr Ghosn was the architect of the Renault-Nissan alliance, and brought Mitsubishi on board in 2016.

Renault kept Mr Ghosn on as chief executive and chairman even after Nissan and Mitsubishi sacked him after his arrest in November.

Renault 'will draw the same conclusion' on Ghosn, claims Nissan

Carlos Ghosn
Getty Images

The boss of Nissan expects its French alliance partner Renault to come to the same conclusion as the Japanese carmaker about its former chairman Carlos Ghosn once it sees evidence from an investigation into the businessman.

In an interview with Les Echos, the French newspaper, Nissan's chief executive Hiroto Saikawa, said: "All that I ask is that the directors of Renault should have access to the full dossier. I think that once that's the case, they will draw the same conclusions as we did."

Mr Ghosn was arrested in November on suspicion of financial misconduct and remains in detention in Japan.

Nissan fired him but he remains as Renault's chairman and chief executive.

Nissan "remains committed" to Renault-Mitsubishi alliance

The national flags of France and Japan displayed at Nissan Motor's Oppama
Getty Images

Nissan "remains committed" to its alliance with Renault and Mitsubishi Motors despite the arrest of chairman and chef executive Carlos Ghosn over alleged financial misconduct and under-reporting of pay.

It also said that it will increase the scope of decisions that require board approval in order to bolster corporate governance.

Renault and Nissan set to hold meetings about Ghosn

Court sketch of Carlos Ghosn

Renault and Nissan are set to hold meetings today where both boards are expected to be updated on the investigation into alleged financial misconduct by Carlos Ghosn.

The car-makers are in an alliance along with Mitsubishi Motors of which Mr Ghosn remains in charge as chairman and chief executive.

The Financial Times reports that Renault will hold its meeting at 6pm CET.

Mr Ghosn made his first public appearance on Tuesday since he was arrested and detained in Japan in November.

He said that he had been "wrongly accused and unfairly detained".

Nissan row rumbles on

Nissan car
Getty Images

That Nissan row is rumbling on. According to a Reuters report, Renault and Nissan executives will hold a board meeting in Amsterdam today.

Tensions over the future of the partnership remain in the wake of Chairman Carlos Ghosn’s arrest last month.

The two days of talks in Amsterdam come after Nissan CEO Hiroto Saikawa rebuffed a demand from parent Renault for an extraordinary shareholder meeting that would have offered the French carmaker a chance to weigh in on Ghosn’s replacement as chairman and on other Nissan board appointments.