Renault Board fires its CEO

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The Board members of Renault has fired its Chief Executive Officer (CEO) Thierry Bollore. A few days back, even Nissan had decided to shook its leadership. Since the two automakers are currently in a much-vaunted alliance, they have also been struggling to maintain their footing for the last one year. Their former chairman Carlos Ghosn was ousted in the previous year.

Later on, the French automaker announced that it’s Chief Financial Officer (CFO) Clotilde Delbos would be the interim Chief Executive. After Mr. Ghosn was removed from CEO post on the charges of financial irregularities last year, the company has always been in the news since then.

Without elaborating, the Board announced that it had decided to end the mandate of Mr. Bollore with ‘immediate effect.’

Last Tuesday, Nissan also ousted its CEO Hiroto Saikawa who was associated with the company for a long time. Mr. Saikawa has always been considered a protege of Mr. Ghosn.

Ever since the surprise maneuver was announced last Friday, Renault has been looking for a chief who could work closely with Nissan. Jean-Dominique Senard had taken helms as the chairman of the French automaker in January.

Mr. Bollore had joined the Renault seven years back in 2012. While talking to the media, he stated that he was the target of a ‘disturbing coup.’ According to him, getting promoted under Mr. Ghosn was the only thing he had done wrong. Mr. Ghosn had to resign in January 2018 after the pressure from the Renault Board and Investors.

The French carmaker had also filed a complaint with the law prosecutors in France so that they could investigate the irregularities caused by Mr. Ghosn.

Later on, the leaderships from both sides came together to form a new partnership, which was widely affected due to financial irregularities, corporate intrigue, internal issues, government problems, etc.

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