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Business

Carlos Ghosn to strengthen hold on Renault

Latest update : 2008-12-10

Carlos Ghosn, the current president of French carmaker Renault, will become the company's chairman and CEO in May. Ghosn will also replace Louis Schweitzer as chairman of Renault's board of directors.

AFP - Carlos Ghosn, president of French auto maker Renault, will become the company's chairman and chief executive officer in May, Renault announced Wednesday.

He will also become chairman of Renault's board of directors, replacing Louis Schweitzer, who has said he will not seek a renewal of his mandate as director at the annual shareholders' general assembly on May 6.

"At this point it will be proposed to the board of directors an evolution concerning the governance," Renault said in a statement.

"Carlos Ghosn would be named chairman and chief executive officer and, additionally to his current functions, he will become chairman of the board of directors," the statement said.

Ghosn is also co-chairman, president and chief executive officer of Nissan of Japan.

Renault holds a controlling stake in Nissan, Japan's third largest automaker by sales.

Date created : 2008-12-10

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