Nissan wants a different Chairman from Renault

According to a media report, Nissan is averse to appointing the same chairman as the French carmaker, after Carlos Ghosn was jailed. The move comes despite an earlier arrangement between the two companies to have the same person at the top position.

Last month, Carlos Ghosn stepped down as the chairman of Renault and was replaced by Jean-Dominique Senard. Ghosn served as the chairman of both the carmakers. While Senard will be appointed to the board of Nissan, it is reported that the discussion on the position of chairman will be held only after he joins officially.

Renault holds a 43-percent stake in Nissan along with voting rights, while the latter owns only a 15-percent non-voting stake in the former. The French government holds a 15-percent stake in Renault, indirectly having an influence over Nissan. Further, as per company agreements, Renault has the power to appoint Nissan's chairman as well as the CEO.

Ghosn is currently under detention over alleged financial misconduct.

Source: Bloomberg