Ghosn gone: Executive leaves Renault

Ghosn resigns as CEO of Renault two months after arrest

The French company's board will meet Thursday and is expected to appoint Michelin chief Jean-Dominique Senard as chairman and to make interim Chief Executive Officer Thierry Bollore's role permanent, said a person familiar with the matter, who asked not to be identified discussing private matters.

Carlos Ghosn, the disgraced ex-CEO of Nissan who was arrested in Japan late previous year on charges relating to salary fraud, has finally resigned his remaining positions.

Ghosn was arrested in Japan in November on charges of financial fraud and allegations of having committed "significant acts of misconduct".

Renault said Michelin's Jean-Dominique Senard had been appointed chairman, and Thierry Bolloré chief executive.

Reportedly, a board meeting will be now held on Thursday where Ghosn's successors will be appointed.

For two months, the tensions deepened as Renault and the French government stuck by Ghosn despite the revelation he had arranged to be paid tens of millions of dollars in additional income, unknown to shareholders. Ghosn has already been removed as the chairman of Nissan, Mitsubishi and the Alliance.

Senard will now have the task of easing the relationship between Renault and Nissan, as he'll be the main contact for the Japanese automaker and other Alliance members in the discussions on the Alliance's future.

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Both men deny the deferred pay agreements were illegal or required disclosure.

Carlos Ghosn was arrested in November past year on charges of embezzlement of funds, not declaring his income and seeking to shift his personal investment losses onto Nissan.

Those rules specify that Renault's CEO is also the head of the Amsterdam-based venture that manages the alliance, Le Maire has said.

Nissan owns a 15% non-voting stake in its French parent and 34% in Mitsubishi Motors, a third major partner in the manufacturing alliance.

Ghosn finally agreed in recent days to step down from Renault, Reuters reported on Tuesday - but only after the French government called for leadership change and his bail requests were rejected by the Japanese courts.

Renault executives want to resume work on a new ownership structure within the Alliance, once the new management is settled. In an interview last week, Saikawa acknowledged shareholders' concerns that the current structure undervalues their investments, but added that altering it was "really not the current priority".

Bollore, a 55-year-old at Renault since 2012, has held various positions in the auto industry in Asia and is seen as someone who can maintain stability as the alliance enters a new era.

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