Renault Asked Nissan For A Shareholder Meeting Amid Crisis Of Ghosn's Arrest

Renault Asked Nissan For A Shareholder Meeting Amid Crisis Of Ghosn’s Arrest

Bussiness Top Stories

Renault’s top official has urged for a shareholder meeting, The Wall Street Journal reported recently, highlighting the detention of Carlos Ghosn in last month in Tokyo as a “noteworthy risk” to the French automaker’s partnership. Ghosn was arrested in November on doubts of misusing company funds and underreporting income. Thierry Bollore—Deputy CEO of Renault—in the letter to Nissan’s CEO, Hiroto Saikawa, asked to call for a shareholder meeting “as early as practicable.”

Renault owns a minimum 40% of Nissan, which is planned to conduct a board meeting soon, The Wall Street Journal reported. The French automaker wants a discussion regarding Renault’s representation inside Nissan’s top ranks, the report stated. Ghosh’s “accusation creates considerable risks to Renault—as Nissan’s biggest shareholder—and to the solidity of our industry association,” Bollore stated. He further added, “We believe a shareholder meeting would be the best mode of addressing these issues in transparent and an open fashion.” In response to an investigation from CNBC, a representative for Nissan reported the company “had talk transparently and actively with Renault about this matter and will persist to do so. We stay steadfast in our promise to the association.”

On a similar note, recently, Nissan has filed a claim against Carlos Ghosn’s sister in the court of Brazil. Reportedly, Nissan has alleged “unjust improvement,” escalating a battle being started at Brazilian courts amid the car manufacturer and its once-celebrated ex-chairman. As per to Reuters, a docket stated that the Japanese automaker has filed a claim against Claudine Bichara de Oliveira. The docket affirmed Oliveira as the defendant and Nissan as the claimant, under the subject title “unjust enrichment.” Nissan said the allegation, which required a stay on the act of limitations on a document produced 3 Years earlier, would let it the option of performing further legal action.