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Renault ousts CEO days after Nissan gets a new one

Newly-appointed interim CEO Clotilde Delbos and Chairman of Renault SA Jean-Dominique Senard. / Reuters   PARIS — Renault ousted chief executive Thierry Bollore on Friday, as the French carmaker and its Japanese partner Nissan seek to rekindle their alliance following the scandal-hit tenure of former alliance supremo Carlos Ghosn. Tensions between Renault and Nissan, which picked a new CEO on Tuesday, have been high since Ghosn's arrest in Tokyo last year on allegations of financial misconduct, which he denies. Bollore, who was close to Ghosn and had strained relations with Nissan's previous boss, will be replaced on an interim basis by Renault finance director Clotilde Delbos. With new faces at the helm, Renault chairman Jean-Dominique Senard is hoping to draw a line under almost a year of turmoil and revive cooperation between two carmakers once seen as destined to fully merge. That is vital at a time when auto markets are slowing and carmakers are having to invest in costly new technologies as well as meet challenging European emissions regulations. "We're at a new stage now for this alliance. Sometimes you need new management ... to breathe new life into things," Senard, who was brought in earlier this year from tyre maker Michelin, told a news conference in Paris. He said three members of Renault's 18-strong board abstained in the vote to remove Bollore, who hit out at his looming dismissal in a newspaper interview the night before, calling it a coup. Following Ghosn's arrest, a feeling of stagnation around joint Renault-Nissan projects, including on issues such as advancing on cost savings, had begun to set in, people at Renault have said. These would now be the first priority, according to a source close to the carmaker. "There are a lot of concrete matters that have already been identified, including on the industrial front: working on batteries, electric vehicles, connectivity, purchasing and self-driving cars," the source said. Shares in Renault closed up 5.1%. 'Coup de force' Tensions between Renault and Nissan were further inflamed this year, including during various spats over governance reforms, and after a failed deal to pair Renault up with Fiat Chrysler, which withdrew a merger offer. Senard reiterated on Friday that a tie-up with Fiat, which was abandoned in June, was not at present on the agenda.

Renault, Nissan attempt to calm rumors of impending split

TOKYO/PARIS — Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan rejected media reports that their alliance was in danger of being dissolved. Some have openly questioned whether the alliance can survive without disgraced former CEO Carlos Ghosn to keep the two partners happy.  Renault shares fell to a six-year low on Monday after rumors circulated that its alliance with Nissan was in jeopardy. Nissan shares tumbled to their lowest in 8 1/2 years on Tuesday in Tokyo. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT. The alliance, which also includes Japan's Mitsubishi Motors, is "solid, robust, everything but dead," the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L'Echo. A split between the two automotive giants would force both to find new partners in a fast-consolidating industry that is growing increasingly difficult to navigate for independent companies. It will be especially difficult for Renault and Nissan, whose dirty laundry Ghosn intends to air for public consideration.   French Finance Minister Bruno Le Maire also weighed in, saying reports some executives wanted to break up the alliance were "malicious." Speaking to France's CNews TV, he also said he expected Renault to name a new chief executive within days to replace Thierry Bollore, a Ghosn-era appointee who was ousted in October. Luca de Meo, who stepped down as the head of Volkswagen's Seat brand last week, is seen as a frontrunner for the job, although a stringent non-compete clause in his contract firm may prove a hurdle, sources have told Reuters. Nissan, in response to "speculative international media reports," said it was "in no way considering dissolving the alliance." "The alliance is the source of Nissan's competitiveness," the Japanese automaker said in a statement. "Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies." Concerns emerged about the future of the Renault-Nissan partnership after the November 2018 arrest in Japan of Ghosn, the man who did more than anyone else to hold together the disparate alliance of often-contrasting carmaking cultures.

Nissan Canada offers box-fresh racecar for $19,998 [w/video]

Nissan is seriously emphasizing its commitment to motorsports with projects like next year's GT-R LM endurance racer at Le Mans and the company's participation with GT Academy. At least in Canada, the automaker is adding another opportunity to get people onto the track with the new Nissan Micra Cup one-make race series. Sure, the Micra might not as quick as a GT-R, but this series offers Canadians a chance to start racing for a reasonable price. Nissan claims the events have "the lowest running cost of any Canadian series," and we can't think of a cheaper turnkey new racecar in all of North America.
The cars are all based on the not-for-US Micra 1.6 S M/T model with a 1.6-litre four-cylinder engine making 109 horsepower and 107 pound-feet of torque and a five-speed manual gearbox. The only real performance upgrades are a Nismo suspension kit, new exhaust, improved brake pads and sticky Pirelli tires. For added safety, the interior is entirely stripped out and is replaced with a full roll cage with a driver protection net, FIA-approved racing seat with five-point harness, fire extinguisher and front and rear tow hooks. The whole, race-ready package will set competitors back $19,998 Canadian dollars before taxes.
The inaugural Micra Cup series begins in May 2015, and the first season is exclusively taking place in Quebec, with the promise of moving to other provinces if it's a success. Each event includes a half hour of practice, a half hour of qualifying and a pair of half-hour races. Nissan is estimating impressive fields of over 25 cars of competitors.