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Nissan-Renault alliance reportedly to meet Thursday in Amsterdam

AFP-JIJI

The heads of Renault and Nissan will meet Thursday in Amsterdam for the first time since Carlos Ghosn was ousted as chairman of Nissan Motor Co. and resigned as head of Renault SA following his arrest in Japan, a source close to the companies said.

The source said Monday that the Dutch-based alliance’s board will hold an “operational meeting” that was scheduled well in advance of Ghosn’s resignation, but declined to say if the nomination of a new president was on the agenda.

The French carmaker declined to comment.

Last week, Renault named Thierry Bollore as chief executive and Jean-Dominique Senard as chairman, filling the posts that Ghosn had held.

Nissan and Renault are equal partners in the alliance, which coordinates activities and elaborates medium- and long-term strategy for the companies, but according to a restated agreement, the Renault CEO is its president.

Ghosn is being held in Tokyo Detention House on charges of underreporting his income, and France is keen to maintain a “balance” in the alliance, President Emmanuel Macron said Sunday.

Renault owns 43 percent of Nissan, which itself has a 15 percent stake in the French company and 34 percent of alliance member Mitsubishi Motors.

Nissan has outperformed its French partner recently, however, and Ghosn’s arrest could harm Renault’s influence in the alliance, which was the world’s largest in 2017, with sales of 10.6 million vehicles.

France is Renault’s top shareholder, and holds 22 percent of its voting rights.