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Renault appoints temporary replacement for Ghosn

Renault has appointed its chief operating officer Thierry Bolloré as deputy CEO on a temporary basis as it explores allegations of serious misconduct by CEO Carlos Ghosn.

Renault said Carlos Ghosn would be temporarily replaced by Thierry Bolloré as deputy CEO 

Although fellow Alliance member Nissan had said on Monday that it plans to oust Ghosn as its chairman as it alleged that he and another senior executive Greg Kelly had been under reporting compensation amounts, Renault said last night that its Board was “unable to comment on the evidence seemingly gathered against Mr Ghosn by Nissan and the Japanese judicial authorities”.

Following an emergency board meeting on Tuesday, Renault said that Ghosn, although “temporarily incapacitated” would remain as its chairman and CEO but Bolloré would lead the management team of the Group in his absence, having the same powers as Ghosn.

Mitsubishi, which named Ghosn as chairman in 2016, has not commented on any changes to his role there.

Since Nissan’s comments on Monday, prosecutors have said in a statement that Mr Ghosn and senior executive Greg Kelly had conspired to understate Mr Ghosn’s compensation, starting back from 2010. Meanwhile, according to Japanese media reports, Ghosn could be detained for 10 days by the local police.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.