Nissan to Accept Renault CEO as New Director

Economy

Tokyo, May 16 (Jiji Press)--Nissan Motor Co. <7201> will propose selecting Thierry Bollore, chief executive officer of Renault SA, the French alliance partner of the Japanese automaker, to its board of directors at its general shareholders meeting in June, it was learned Thursday.

Renault Chairman Jean-Dominique Senard, who became a Nissan director in April, will stay on the board, informed sources said.

The addition of the second Renault official to Nissan management is expected to affect talks on the two companies' possible business integration. Renault is positive on the integration while Nissan is keen to maintain its independence.

After the revelations of alleged financial misconduct by former Nissan Chairman Carlos Ghosn, the Japanese company has been pushing for corporate governance reform through setting up a committee composed of outside board directors.

Ghosn has been indicted by the Tokyo District Public Prosecutors Office for a series of suspected wrongdoing.

[Copyright The Jiji Press, Ltd.]

Jiji Press