Renault AG Chairman Louis Schweitzer said Tuesday he plans to name Nissan Motor Co. President Carlos Ghosn as his successor when his tenure expires in 2005.
Schweitzer, speaking to Japanese reporters at the Frankfurt Motor Show, called the appointment natural and one he had been considering since Ghosn joined the French automaker.
Ghosn, who is also in Frankfurt, said it was a great pleasure to be named as a candidate for chairman.
Schweitzer sent Ghosn to head Nissan in 1999 when Renault acquired a 36.8 percent stake in Nissan and a 22.5 percent stake in Nissan Diesel Motor Co.
Ghosn was later appointed president of Nissan and led the automaker to post a record group net profit in the business year to March 31.
Schweitzer also said Renault plans to increase its stake in Nissan to 44.4 percent but stopped short of giving a time frame.
He also said the two companies will decide through consultations whether to have Nissan take a stake in Renault. A 1999 agreement reached by the two companies specifies Nissan's right to take a stake in Renault.