Canadian Manufacturing

Nissan board taps Renault’s Senard, shareholders meeting set

Nissan did not say if Senard was being considered to replace former chairman, Carlos Ghosn


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PHOTO: Nissan

TOKYO – Nissan’s board has chosen as a director Jean-Dominique Senard, who was recently appointed chairman at the Japanese automaker’s alliance partner Renault SA of France.

Nissan Motor Co. said in a statement that its board decided Tuesday to hold an extraordinary shareholders’ meeting on April 8, to remove its former chairman, Carlos Ghosn. Earlier, he also was dismissed as chairman of smaller alliance partner Mitsubishi Motors Corp. He resigned recently as chairman and chief executive of Renault.

Nissan did not say if Senard was being considered to replace Ghosn as chairman.

Ghosn was arrested Nov. 19 and was charged with falsifying financial reports and breach of trust. Shareholders must approve his removal from and Senard’s addition to the board.

Nissan also will seek shareholders’ approval for the ouster of Greg Kelly, who was arrested with Ghosn for alleged financial misconduct in collaborating to underreport Ghosn’s compensation.

Ghosn has repeatedly said he is innocent. Ghosn led Nissan for two decades, turning it around from near-bankruptcy. He had served as chairman and CEO of Renault since 2009.

Renault named Senard of Michelin as its chairman and Renault executive Thierry Bollore as its chief executive last month. Ghosn had previously held both posts.

Renault had initially kept Ghosn on as its head but the French government, which owns about 15 per cent of the company, pressed for a replacement. Renault owns 43 per cent of Nissan.

Nissan said nominations for its board of directors also will be submitted to its annual general shareholders’ meeting set for June.

A special Nissan committee is due to draw up proposals for stronger corporate governance by late March.


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