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France - Japan

Renault board keeps Ghosn as CEO

A monitor broadcasts news of ousted Nissan Motor chairman Carlos Ghosn in Tokyo
A monitor broadcasts news of ousted Nissan Motor chairman Carlos Ghosn in Tokyo REUTERS/Issei Kato

The board of French carmaker Renault has decided to keep Carlos Ghosn as company boss, despite his imprisonment in Japan on charges of financial misconduct and concealing the real amount of his remuneration.

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Renault's Japanese partners Nissan and Mitsubishi have both sacked Ghosn as chairman but the French company's board on Thursday decided to keep him in his post.

A preliminary report by ethics and compliance officers found that the pay package he is accused of under-reporting conformed with French law and bosses' union guidelines.

The board decided to maintain decisions taken on 20 November, the day after his arrest, to appoint board chair Philippe Lagayette and deputy CEO Thierry Bolloré as interim top management.

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