TOKYO - Japan’s Nissan Motor Co will keep Hiroto Saikawa on as president and will bring in the chief executive of alliance partner Renault SA as a board member, two sources briefed on the matter said on Friday.
Renault Chief Executive Thierry Bollore is due to join the board, the sources said, while the French automaker’s chairman, Jean-Dominique Senard, will remain on Nissan’s board. The appointments are expected to be announced on Friday and presented for approval at a Nissan shareholder meeting in June. The board make-up has implications for Nissan’s alliance with its top shareholder, Renault. The unequal relationship between them - smaller Renault has the bigger stake in Nissan - has long been a source of friction in Japan.Renault has been pushing for merger talks between the two companies and Saikawa has been seen as an obstacle, several people have told Reuters.
Ghosn, who denies any wrongdoing, is out on bail and awaiting trial in Tokyo on charges of financial misconduct and allegedly enriching himself at Nissan’s expense.
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