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Renault board names Ghosn stand-ins, as tensions with Nissan increase

PARIS/TOKYO — French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn's operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday. But the board refrained from firing Ghosn while awaiting more detail on the allegations — in a decision that could also buy more time for an accelerated, permanent succession process. "Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer," Renault said in a statement. "During this period, the board will meet on a regular basis under the chairmanship of the lead independent director." Ghosn, one of the car industry's best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday. The French government, Renault's biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," Finance Minister Bruno Le Maire said earlier in the day. "Renault has been weakened, which makes it all the more necessary to act quickly." Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn's arrest on Monday. Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their "shared wish to maintain this winning cooperation." But in a sign that Nissan may now seek to loosen its French parent's hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter told Reuters.

Game on as Formula One fields teams for virtual eSports competition

HORLEY, England — Grand prix teams could be racing each other in the virtual world as well as the real one next season, and fighting to sign up the hottest gamer talent, as Formula One wakes to the power of eSports. Darren Cox, the man behind McLaren's "World's Fastest Gamer" competition who also saw one of his drivers win Formula One's first eSports series in Abu Dhabi last month, feels a tipping point has been reached this year. The former Nissan motorsport boss, who runs the eSPORTS+CARS virtual team, can also see the day dawning — in maybe three to five years' time — when top gamers are earning more than the lowest paid drivers on the real F1 starting grid. In a wide-ranging interview at a simulator center where his drivers train near London's Gatwick airport, Cox told Reuters that he expected Formula One teams to become involved in next year's eSports series. "If you look at what the NBA (basketball) has done ... they engaged the teams right at the beginning. So 17 of the NBA teams have got franchises for the virtual side of the sport, and there's a draft like in the real world. "So expect something like that to come out of (Formula One owners) Liberty," added Cox. "It's happening now. Those conversations are being had. "This absolutely will be a big priority for them (Liberty), and I believe they have made it clear to the teams that they will be involved, in some way. "And then I guess it's down to the teams about how involved they want to be." Kitchen porter turns champion Formula One's first eSports series was won by Brendon Leigh, an 18-year-old kitchen porter who had never previously been out of Britain. Leigh, who drives for Cox's team and emerged triumphant from 63,000 initial hopefuls, is likely to go professional. Some gamers in other arenas are already earning more than $1 million a year, and Cox said the rewards in motorsport were growing all the time. "If you go back 18 months, these guys were winning an X-box and a free subscription, not any cash. The cash has suddenly come, and I think that will ramp up," said the man who has been dubbed the "Godfather of virtual racing." Cox dismissed as irrelevant the debate about whether eSport is a sport. "It's here, it's got millions of viewers, it's got a commercial backbone that is strong. It doesn't matter if someone in sport thinks it's a sport or not. eSports don't care." He expected all the big F1 teams to end up partnering with outfits like his.

The mood at this year’s Paris Motor Show: Quiet

The Paris Motor Show, held every other year in the early fall, typically kicks off the annual cavalcade of automotive conclaves, one that traverses the globe between autumn and spring, introducing projective, conceptual and production-ready vehicle models to the international automotive press, automotive aficionados and a public hungry for news of our increasingly futuristic mobility enterprise. But this year, at the press preview days for the show, the grounds of the Porte de Versailles convention center felt a bit more sparsely populated than usual. This was not simply a subjective sensation, or one influenced by the center's atypically dispersed assemblage of seven discrete buildings, which tends to spread out the cars and the crowds. There were not only fewer new vehicles being premiered in Paris this year, there were fewer manufacturers there to display them. Major mainstream European OEM stalwarts such as Alfa Romeo, Fiat, Nissan and Volkswagen chose to sit out Paris this year, as did boutique manufacturers like Bentley, Aston Martin and Lamborghini. This is not simply based in some antipathy on the part of the German, British and Italian manufacturers toward the French market — though for a variety of historical and societal reasons that market may be more dominated by vehicles produced domestically than others. Rather, it is part of a larger trend in the industry. Last year, Mercedes-Benz announced that it would not be participating in the flagship North American International Auto Show in 2019 — and that it might not return. Other brands including Jaguar/Land Rover, Audi, Porsche, Mazda and nearly every exotic carmaker have also departed the Detroit show. Some of these brands will still appear in the city in which the show is taking place, and host an event offsite, to capitalize on the presence of a large number of reporters in attendance. And even brands that do have a presence at the show have shifted their vehicle introductions to the days before the official press opening in an attempt to stand out from the crowd. In many ways, this makes sense. With an expanding number of automakers, with diversification and niche-ification of models and with wholesale shifts that necessitate the introduction of EV or autonomous sub-brands, there is a growing sense that, with everyone shouting at the same time, no one can be heard.