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Nissan sees conflict of interest if Renault director joins reform teams: Report

Renault has signalled it will block reforms launched by Nissan in the wake of the Carlos Ghosn scandal unless it is granted representation on new board committees, a source said.

business Updated: Jun 10, 2019 15:21 IST
Reuters
Reuters
Paris, France
Nissan,conflict of interest,Renault director
Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan’s planned governance reform committees may lead to a conflict of interest.(Twitter/Nissan )

Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan’s planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday.

Renault, which owns 43.4% of Nissan, informed its Japanese affiliate in a letter signed by Chairman Jean-Dominique Senard that it planned to abstain in a shareholder vote on the plans, the Financial Times reported on Sunday.

Renault has signalled it will block reforms launched by Nissan in the wake of the Carlos Ghosn scandal unless it is granted representation on new board committees, a source close to the French car maker has told Reuters.

Nissan was not immediately available for comment on the issue.

Also read: Ex-Nissan boss Carlos Ghosn to walk free, again, after court sets bail at $4.5 million

(The story has been published from a wire feed without any modifications to the text, only the headline has been changed.)

First Published: Jun 10, 2019 15:21 IST