Nissan, Renault, Mitsubishi Motors to Set Up Alliance Management Board

Economy

Yokohama, March 12 (Jiji Press)--Top leaders of Japanese automaker Nissan Motor Co. <7201>, Paris-based Renault SA and Nissan's domestic peer Mitsubishi Motors Corp. <7211> said Tuesday they will newly set up a board to discuss the three automakers' alliance strategy.

Nissan President Hiroto Saikawa, Renault Chairman Jean-Dominique Senard and Mitsubishi Motors Chief Executive Officer Osamu Masuko unveiled the plan to create what they call the alliance operating board at their joint press conference, held at Nissan's head office in Yokohama, south of Tokyo.

The proposed board will be presided by Senard and joined by Saikawa, Masuko and Renault CEO Thierry Bollore. It will hold a meeting every month in Paris or Tokyo.

Joint ventures Renault-Nissan BV and Nissan-Mitsubishi BV, both based in the Netherlands, have overseen alliance businesses.

But the three companies decided to create the sole body to monitor alliance operations and governance, in a step to overhaul the management system that granted decision-making power intensively to former Nissan Chairman Carlos Ghosn until his arrest late last year on charges of financial misconduct. He also served in the highest positions at Renault and Mitsubishi Motors.

[Copyright The Jiji Press, Ltd.]

Jiji Press