Auto

Renault taps interim chairman, COO to replace Ghosn: sources

Updated : November 21, 2018 07:30 AM IST

Philippe Lagayette, the board's highest-ranked independent director, will take over temporarily as chairman, the sources said.

Chief Operating Officer Thierry Bollore, Ghosn's second-in-command, will take on full company officer powers.

Renault taps interim chairman, COO to replace Ghosn: sources

French carmaker Renault's board named an interim chairman and handed new powers to its chief operating officer to replace embattled boss Carlos Ghosn following his arrest in Japan on suspicion of financial misconduct, sources said.

Philippe Lagayette, the board's highest-ranked independent director, will take over temporarily as chairman, the sources said. Chief Operating Officer Thierry Bollore, Ghosn's second-in-command, will take on full company officer powers.

At a Tuesday meeting, the board refrained from ousting Ghosn, the chairman and chief executive, while it awaits more information on accusations that emerged from an internal investigation by alliance partner Nissan, the sources said.

A Renault spokesman did not immediately respond to requests for comment.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more