Renault’s Senard to get second term as chairman

PARIS — Groupe Renault’s Jean-Dominique Senard, who was brought in to stabilize the company after the arrest of its chairman and CEO Carlos Ghosn in November 2018, will be appointed for another term, the automaker says. Stated.

Senard was named that year by Renault’s major shareholder, the French government, to replace Ghosn, who was detained in Japan after being arrested on suspicion of underestimating the compensation of alliance partner Nissan.

Senard, now 69, was Michelin’s CEO at the time and planned to step down when his contract expired in 2019.

Read more: Renault’s Senar, called ‘Anti-Gone’, is a stabilizing force

He was officially appointed Chairman in January 2019. Senard is reportedly on good terms with Renault’s alliance partner Nissan, and in the months following Ghosn’s arrest, he sought to reassure Nissan executives of Renault’s commitment to the partnership. I traveled to and from Japan.

Senard took the lead in negotiations for an ultimately unsuccessful combination with Fiat Chrysler Automobiles, but it was clarified at the last minute.

Over the past six months, he has been heavily involved in negotiations to restore balance to the Alliance. Renault owns his 43% stake in Nissan, the majority stake it acquired in 1999, but a much larger company, Nissan, owns 15% of Renault and is on Renault’s board of directors. does not have voting rights.

Negotiations were expected to close this fall, but recent reports suggest a deal won’t happen until early next year.

Renault’s board of directors will approve Senard’s new term at its May meeting, the company said Thursday.

It also approves the appointment of CEO Luca de Meo to the Board of Directors and renews the term of former Daimler executive Annette Winkler, who led the smart brand until 2018.

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