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Renault names new leaders as jailed Carlos Ghosn bows out

PARIS — Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after Carlos Ghosn was forced to resign in the wake of a financial scandal that has rocked the French carmaker and its alliance with Japan's Nissan. Senard will become chairman immediately, the company said, with deputy chief executive Thierry Bollore taking over Ghosn's other Renault role as full CEO. The appointments may begin to ease a Renault-Nissan leadership crisis that erupted after Ghosn's Nov. 19 arrest in Japan and swift dismissal as Nissan chairman. Senard, 65, now faces the task of soothing relations with Renault's Japanese partner and resuming talks on a new alliance structure to cement the 20-year-old partnership. "It's important that this alliance remain extremely strong," Senard told reporters after a board meeting - citing the mounting investment demands of new vehicle technologies. "It is our compulsory duty to go forward together." Ghosn's exit also marks a clear end to one of the auto industry's most feted careers, two decades after he was despatched by former Renault boss Louis Schweitzer to rescue newly acquired Nissan from near-bankruptcy — a feat he pulled off in two years. After 14 years as Renault CEO and a decade as chairman, Ghosn formally resigned from both roles on the eve of the board meeting. Ghosn's arrest and indictment for financial misconduct has strained the Renault-Nissan relationship, threatening the future of the industrial partnership he transformed into a global carmaking giant over two decades. For two months, the tensions deepened as Renault and the French government stuck by Ghosn despite the revelation he had arranged to be paid tens of millions of dollars in additional income, unbeknownst to shareholders. Ghosn has been charged with failing to disclose more than $80 million in additional compensation for 2010-18 that he had agreed to be paid later. Nissan director Greg Kelly and the Japanese company itself have also been indicted. Both men deny the deferred pay was illegal or required disclosure, while not contesting the agreements' existence. Ghosn has denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Ghosn had agreed in recent days to step down from Renault, Reuters reported on Tuesday — but only after the French government, Renault's biggest shareholder, called for leadership change and his bail requests were rejected.

Nissan CEO plans to deliver 'raw details of the misconduct' to Renault

TOKYO/PARIS — Nissan Motor's CEO plans to meet one-on-one with the deputy CEO of automaking partner Renault in Amsterdam this week, sources told Reuters, amid tensions over the future of the alliance after Chairman Carlos Ghosn's arrest last month. The meeting would be the first face-to-face interaction between Nissan's Hiroto Saikawa and Renault's Thierry Bollore since Ghosn was arrested on Nov. 19 in Tokyo. It would take place alongside regular top-level, monthly talks between the partners and Mitsubishi Motor Corp that will be held over two days from Tuesday, according to one of the sources familiar with the matter. Saikawa, who took over from Ghosn as CEO last year, is planning to discuss at the meeting with Bollore possible changes to the partnership's management and operations with an eye to continuing the alliance, another source who is close to Nissan's management said. The talks in Amsterdam could provide Saikawa with an opportunity to try and convince Renault executives of the gravity of Ghosn's alleged misconduct discovered during an in-house investigation by the Japanese automaker. They are being held a day after Saikawa rebuffed a demand from Renault for an extraordinary shareholder meeting that would have offered the French car maker a chance to weigh in on Ghosn's replacement as chairman and on other Nissan board appointments. Mitsubishi Chairman Osamu Masuko said late on Monday he will attend the Amsterdam meetings via video conference. A Nissan spokesman said Saikawa would attend meetings with alliance partners in Amsterdam from Tuesday, but declined to comment on the possibility of the one-on-one meeting with Bollore. Ghosn was charged last week alongside alleged accomplice Greg Kelly and Nissan itself over the company's failure to declare $43 million in deferred income that Ghosn had arranged to be paid while chairman and CEO. Both men remain in custody. The scandal has shaken the Renault-Nissan-Mitsubishi alliance, with Saikawa calling for changes to weaken Renault's control as he moved to oust Ghosn in the week of his arrest. Renault directors were briefed last week on the Nissan investigation that led to Ghosn's arrest but reiterated their earlier decision to keep him in office as chairman and CEO. But the Renault board has yet to be given direct access to Nissan's findings, which are being closely held by Renault lawyers answering to Ghosn's long-standing chief of staff and head of legal affairs at Renault, Mouna Sepehri.

2016 Nissan Titan coming to 2015 Detroit Auto Show

The Titan has continued to sit in a corner of Nissan's front yard, taken out on occasion but largely unloved, the same way you see a project truck in a neighbor's driveway that makes you wonder, "Are they ever going to do anything with that?" The fullsize pickup made the news about six months ago when reports surfaced that the next generation would offer a Cummins diesel engine that had originally been meant for Ram, then it returned to the shadows.
According to a report from Edmunds, the Titan will return to the spotlight in about a year, with the unveil of the 2016 model planned for next year's Detroit Auto Show. Along with that oil-burner, it will bring a gasoline V6 engine, a complete redesign and a regular cab configuration to finally give it a fighting chance against the thick end of the light-duty truck market. Toyota gets pressed for the molasses-like sales of the Tundra, but that fullsize entrant sold 7,890 units in January and 10,988 in December 2013. Nissan sold 887 Titans in January, 1,284 in December 2013 and broke 2,400 US sales in a single month just once in four years. (The segment-leading Ford F-150, for reference, sold 46,536 units in January.)
An entry-level model and a regular cab option should give the Titan a welcome and overdue sales boost. Better power numbers and fuel economy for the V8 would probably go a long way, too. We expect to start getting glimpses of its future later this year.