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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.

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Carlos Ghosn projects Renault-Nissan for #3 position by 2018

As the chief executive of both Renault and Nissan, Carlos Ghosn is one of the most powerful executives in the automotive industry. But at 60, he'll have to retire sooner than later: he's got three and a half years left on his contract at Renault, which mandates retirement by 65. But before his time is up, he intends to leave the Renault-Nissan Alliance among the top three automakers in the world. Currently the combined sales of Nissan, Renault and its various brands (including Dacia, Datsun and Infiniti) make the alliance the fourth largest carmaker globally, trailing behind Toyota, Volkswagen and General Motors, but ahead of Hyundai, Ford, Fiat Chrysler and Honda. But Ghosn sees the alliance's sales (and global market share) increasing in the next three years. Speaking with Automotive News Europe, Ghosn projected confidently that the alliance will hit the number three spot by 2018 – just three years from now. To get there, Ghosn knows that Nissan and Infiniti will need to increase their combined market share to 10 percent in the United States, growing around 2 to 3 percent each year between now and 2018. The challenge is that much more evident in North America where only half of the alliance participates. But it's not all about America. Ghosn also the Chinese market as equally vital to the alliance's success and that of its constituent automakers, projecting continued growth in China for the foreseeable future. He's also banked heavily on the Russian market, which may have dipped now, but in Ghosn's view is bound to recover. News Source: Automotive News - sub. req.Image Credit: Renault-Nissan Alliance Nissan Renault renault-nissan alliance