8chan/8kun QResearch Posts (7)
#6803013 at 2019-06-21 01:23:14 (UTC+1)
Q Research General #8701: United We Stand Edition
Nissan grants Renault execs boardroom seats, ending dispute
TOKYO/PARIS (Reuters) - Japan's Nissan said on Friday it would grant alliance member Renault's representatives seats on key committees of its board, ending a dispute between the two automakers.
Nissan said it will give Renault Chief Executive Thierry Bollore a seat on its board's audit committee and Renault Chairman Jean-Dominique Senard a seat on its nomination committee. Senard will also become vice-chairman of the board.
The move comes after demands by Senard for representation on the committees in return for approving Nissan's overhauled governance structure plunged the two-decade-old partnership into crisis.
"Groupe Renault welcomes Nissan's decision to grant Renault's representatives a seat on the committees of the Nissan board, which will be presented to the general shareholders' meeting on June 25," Renault said in a statement.
"The agreement reached on Renault's presence in Nissan's new governance confirms the spirit of dialogue and mutual respect that exists within the alliance," added Renault, whose merger talks with Fiat-Chrysler broke down this month.
Nissan also said it would nominate Yasushi Kimura, adviser at JXTG Holdings Inc , to chair its board.
The French state has a 15% stake in Renault, while Renault itself owns 43.4% of Nissan.
French ministers have consistently highlighted the importance of ensuring the Renault-Nissan alliance remains strong, before planning any further consolidation with the likes of Fiat-Chrysler.
The 20-year-old partnership between Renault and Nissan has been strained since former leader Carlos Ghosn was arrested for suspected financial misconduct last year. Ghosn denies wrongdoing.
https://www.reuters.com/article/us-nissan-renault/nissan-grants-renault-execs-boardroom-seats-ending-dispute-idUSKCN1TL1QT?
#5635012 at 2019-03-12 03:53:11 (UTC+1)
Q Research General #7206: Memes, Memes, And More Memes Edition
Nissan and Renault weigh closure of Dutch joint venture that reportedly funded Ghosn's parties
Nissan Motor Co. and Renault SA are considering closing their joint venture in the Netherlands, sources said Monday, with the Japanese-French auto alliance aiming to establish a new management structure after the arrest of former Chairman Carlos Ghosn.
As the alliance looks to strengthen joint operations, Nissan, Renault and their third partner, Mitsubishi Motors Corp., said their top executives will hold a joint news conference Tuesday at Nissan's headquarters in Yokohama.
The Amsterdam-based joint venture, Renault-Nissan B.V., which oversees the partnership's operations, had been led by Ghosn until he was detained in Tokyo on Nov. 19 for alleged financial misconduct.
The venture, set up in 2002, had become nonfunctional in recent years, and the alliance including Mitsubishi Motors Corp. has decided on key strategies at other meetings, according to the sources.
The joint venture funded a dinner party held at the Palace of Versailles on the former chairman's birthday and parties with his friends at Rio de Janeiro's Carnival, French media reports have said.
The two automakers last month launched a joint investigation into whether the venture is involved in any potential financial misconduct.
Ghosn was replaced as chairman and CEO of Renault by Jean-Dominique Senard and Thierry Bollore, respectively, and Nissan removed Ghosn as chairman and appointed Senard as a new director subject to approval at a shareholders meeting April. 8. Bollore also succeeded Ghosn as chairman of the joint venture.
Nissan, Renault and Mitsubishi Motors are looking to strengthen their joint operations under their new management teams.
In a similar move, Nissan and Mitsubishi Motors are considering dissolving their joint venture, Nissan-Mitsubishi B.V., which was established in June 2017 in the Netherlands.
Mitsubishi Motors said in January that an internal investigation had found Ghosn "illegally" received around ?7.82 million (¥977 million) in remuneration from the venture.
https://www.japantimes.co.jp/news/2019/03/11/business/corporate-business/nissan-renault-weigh-closure-netherlands-joint-venture-reportedly-funded-ghosns-parties/
#4925169 at 2019-01-27 07:01:07 (UTC+1)
Q Research General #6288: Think 470 Edition
Abe, Macron urge smooth cooperation over Nissan-Renault management change
Jiji Press TOKYO (Jiji Press) - Prime Minister Shinzo Abe and French President Emmanuel Macron on Friday expressed hopes that the management change at Renault SA will work to facilitate cooperation between the French automaker and its Japanese alliance partner, Nissan Motor Co.
During a 20-minute talk over the phone, Abe told Macron that the Nissan-Renault alliance is a symbol of the industrial cooperation between Japan and France and that he wants the two companies to maintain and strengthen their stable partnership.
Specific ways to fortify the partnership should be discussed by the firms themselves, Abe added.
At a board meeting on Thursday, Renault accepted the resignation of Carlos Ghosn, who has been indicted in Japan for alleged financial misconduct, from the posts of its chairman and chief executive officer.
The board appointed Jean-Dominique Senard, CEO of French tire giant Michelin, as new Renault chairman to replace Ghosn, and Thierry Bollore, deputy CEO of Renault, as CEO of the automaker.
In the phone talks, Abe told Macron that Japan, as the chair of this year's summit of the Group of 20 advanced and emerging economies, will aim to promote economic growth and address economic disparities.
http://the-japan-news.com/news/article/0005503920
#4887948 at 2019-01-24 16:50:08 (UTC+1)
Q Research General #6240: Iran And Hezbollah's Venezuela Connections Edition
Early notables
Shout out with anything anons. TY.
>>4887833 Holmes Theranos Fraud case: 600 times said "I don't know" in deposition
>>4887809 Targeting transnational organized crime in the Americas
>>4887789 Subpoenas issued against online abusers of Covington school children
>>4887786 30 Democrats suggest Pelosi give Trump a vote on wall funding
>>4887770 Cohen subpoenaed by House Intelligence Committee
>>4887718 , >>4887701, >>4887727, >>4887752, >>4887790 'Cave' systems and posts
>>4887683 Renault picks Jean-Dominique Senard as new chairman, Thierry Bollore as new CEO
>>4887672 , >>4887674 New DJT tweets on Pelosi and wall. CAVE references
#4887683 at 2019-01-24 16:25:01 (UTC+1)
Q Research General #6240: Iran And Hezbollah's Venezuela Connections Edition
Renault picks Jean-Dominique Senard as new chairman, Thierry Bollore as new CEO
PARIS - The board of Renault SA on Thursday decided on two new leaders to replace Carlos Ghosn as CEO and chairman, as the once-celebrated tycoon appears likely to remain in detention in Japan for months on charges of financial misconduct.
The board picked Thierry Bollore, currently deputy CEO of the French automaker who has been in charge of overseeing day-to-day operations in place of Ghosn, as the new CEO, and Jean-Dominique Senard, CEO of French tire company Michelin, as chairman.
French Finance Minister Bruno Le Maire confirmed Thursday that Ghosn had handed in his resignation, ahead of a board meeting to appoint his successor. A senior director of the firm "received last night the letter of resignation from Carlos Ghosn," who remains detained in Japan, according to Le Maire.
Senard, the new chairman, would also be charged with smoothing out the strained relationship with partner Nissan Motor Co., a person familiar with the matter said, while Bollore would handle daily operations.
Nissan showed a positive reaction to the change in the leadership.
"We welcome these management changes at Renault," the company said in a statement.
"Over the past 20 years, each company has respected the other's identity and autonomy, and by combining our strengths we have created synergies and achieved profitable growth."
Le Maire said this week that the government favored dual leadership atop the companies in which it holds a stake, with the chairman overseeing long-term strategic planning. France owns 15 percent of Renault, with extra voting rights and two seats on the board. The first task of the new management team "is to consolidate the alliance between Renault and Nissan," Le Maire told Francine Lacqua in an interview Thursday at the World Economic Forum in Davos, Switzerland. "I am sure the alliance will stay."
Ghosn has been in custody in Japan since Nov. 19, when police boarded his jet shortly after it landed at Haneda airport in Tokyo. He's been charged with understating his income at Nissan by tens of millions of dollars and transferring personal trading losses to the company. If convicted he could face decades in jail. Ghosn has denied wrongdoing.
His downfall has roiled the pact between Nissan and Renault that the globe-trotting executive held together for two decades. Mitsubishi Motors Corp. joined in 2016. All three companies have said the alliance is essential to remain competitive at a time of costly changes sweeping through the industry, from the decline of diesel cars to the enormous investment required for electric and autonomous vehicles.
Inside Nissan, operations and relationships with key dealers across the world are being reviewed as part of an expanding internal investigation into Ghosn's alleged misdeeds, according to people familiar with the matter. Hundreds of people including regional and legal compliance teams are participating in the probe, the people said.
Nissan CEO Hiroto Saikawa wants to convince investors he's addressing corporate-governance shortcomings exposed by Ghosn's detention. The scandal may not be the last of its type in Japan, where companies need to address how they keep top executives in check, Takeshi Niinami, CEO of liquor giant Suntory Holdings Ltd., said in Davos.
Nissan and Mitsubishi ousted Ghosn as chairman days after his arrest.
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would you let this guy watch your kids? freaky looking
https://www.japantimes.co.jp/news/2019/01/24/business/corporate-business/renault-expected-appoint-michelin-ceo-jean-dominique-senard-new-chairman/
#4885531 at 2019-01-24 09:08:05 (UTC+1)
Q Research General #6237: Timing Is Everything Edition
French finance minister: Ghosn resigned from Renault last night
PARIS (Reuters) - Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.
"Carlos Ghosn just resigned last night," said Le Maire.
Renault's board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn's arrest in Japan for alleged financial misconduct.
The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn's deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters
http://the-japan-news.com/news/article/0005500312
#4164264 at 2018-12-05 15:22:33 (UTC+1)
Q Research General #5302: This Is Not A Funeral Edition
Nissan rejects Renault's request to send successor to replace Ghosn
Nissan Motor Co. has rejected partner Renault SA's request to send a successor with equal authority to replace ousted Chairman Carlos Ghosn, according to sources close to the matter, in a heightening leadership tussle at one of the world's biggest automaker groups.
Renault, which has retained Ghosn as CEO and chairman following his arrest last month for alleged financial misconduct, made the request during the Japanese automaker's emergency board meeting on Nov. 22, according to the sources.
The proposal was made to protect its business interests and maintain its influence within Nissan following Ghosn's dismissal, the sources said on Tuesday. The French automaker is Nissan's top shareholder.
But regarding the future relationship with Renault, Nissan CEO Hiroto Saikawa has said he wants to review the management structure, believing that the excessive concentration of power in Ghosn had undermined transparency and governance.
Ghosn, known as the man who saved Nissan from the brink of bankruptcy, was sent to the Japanese automaker from Renault in 1999 to be its chief operating officer. He became Nissan president in 2000 and served as CEO from 2001 to 2017.
Saikawa also views Nissan's relationship with Renault as unbalanced and favoring the French carmaker. Although it generates smaller earnings than Nissan, Renault owns a 43.4 percent stake in the Japanese automaker, which holds only a 15 percent stake in its French peer, but without voting rights. Nissan has a 34 percent stake in Mitsubishi Motors Corp., the third alliance partner.
Under the current agreement between Nissan and Renault, the Japanese automaker is to receive senior executives from the French peer, other sources said earlier.
Saikawa, Renault's acting CEO Thierry Bollore and Mitsubishi Motors CEO Osamu Masuko agreed on Nov. 30 to lead the three-way alliance through a consultative process between them, in an apparent departure from the decision-making process mainly until now led by the partnership's CEO and Chairman Ghosn, according to the Japanese executives.
Still, the struggle for leadership is expected to continue. Under the current accord between Nissan and Renault the post of CEO and chairman of the alliance is to be assumed by someone from the French automaker, analysts said.
The French government, the largest shareholder in Renault, has also stepped up efforts to keep Renault's strong control over the alliance.
It has said that a person from Renault should continue to lead Renault-Nissan BV, an Amsterdam-based company in charge of overseeing the partnership, and that the current cross-shareholdings should be maintained.
For French President Emmanuel Macron, who has seen recent sagging support ratings and street protests triggered by fuel tax hikes initially planned for January, it is crucial that Renault maintains its role in the country's economy while creating jobs, analysts said.
At the Nov. 22 meeting, the Nissan board decided to dismiss Ghosn as chairman and set up a three-member panel comprised of external directors to select his successor from among the current board members.
The three independent directors held their first meeting Tuesday to discuss who should succeed Ghosn as chairman, but did not reach a conclusion, according to Nissan officials.
The board is expected to formally approve the successor at its meeting on Dec. 17. One of the plans is to have Saikawa double as interim chairman, the sources said.
Ghosn was arrested by Tokyo prosecutors on Nov. 19 on suspicion of violating the Financial Instruments and Exchange Act by underreporting his remuneration by a total of about ¥5 billion ($44 million) over five years to March 2015.
Additionally, sources said Tuesday that Tokyo prosecutors have decided to seek a fresh arrest warrant for Ghosn on suspicion that he failed to report around ¥4 billion ($35.5 million) of his remuneration in its securities reports for the three years through March.
Along with Greg Kelly, a former Nissan representative director, Ghosn, who is being held at the Tokyo Detention House, is expected to be served with a fresh arrest warrant on Dec. 10, when the detention period for the pair expires.
Ghosn and Kelly have told the prosecutors that it was unnecessary to report some of the remuneration as the payments had yet to be settled, according to different sources with knowledge of the investigation.
The unreported remuneration of the 64-year-old charismatic automotive industry figure is believed to total ¥9 billion.
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Japanese trying to rid themselves of French gov't control
How is that prison cell doing for you Carlos?
https://www.japantimes.co.jp/news/2018/12/05/business/corporate-business/nissan-rejects-renaults-request-send-successor-replace-ghosn/