Renault Chairman Sounds Eager to Expand Influence on Nissan

Economy

Paris, June 12 (Jiji Press)--Renault SA Chairman Jean-Dominique Senard indicated the French automaker's eagerness to expand its influence on its Japanese alliance partner, Nissan Motor Co. <7201>, at a general meeting of Renault shareholders on Wednesday.

Explaining why Renault plans to abstain from a vote on Nissan's governance reform plan, Senard said that the Japanese automaker has not invited Renault Chief Executive Officer Thierry Bollore to join a committee to be set up under the planned governance system, while the chairman has received such an offer.

Senard said Renault, Nissan's top shareholder, is willing to support the reform plan if the Japanese automaker guarantees committee seats for both him and Bollore.

The Renault chairman also mentioned the possibility of the French partner seeking to revise the alliance's basic agreement in the future, while voicing concern that the Renault side's influence at Nissan's board could weaken considerably.

Still, Senard stressed that Renault would have no future unless its alliance with Nissan goes well.

[Copyright The Jiji Press, Ltd.]

Jiji Press