Nissan may ask ex-Toray boss Sakakibara to chair board meetings

  • Nissan may ask ex-Toray boss Sakakibara to chair board meetings

Nissan may ask ex-Toray boss Sakakibara to chair board meetings

Nissan Motor Co.is considering asking ex-Toray Industries chief and Japan Inc. heavyweight Sadayuki Sakakibara to chair its board meetings while leaving vacant the chairman post previously held by Carlos Ghosn, a source said on Thursday.

"We have chose to join our forces again, to enhance the strength of our collaboration", Senard told reporters.

That culminated in the formation this week of a new governance board for the three-way alliance.

Senard said he is not seeking to become Nissan's chairman and fill the vacuum left by Ghosn, who was ousted following his arrest in November.

The companies, together with junior ally Mitsubishi Motors, on Tuesday said the chairman of Renault would serve as the head of the alliance but - in a critical sign of the rebalancing - not as chairman of Nissan.

Mr Ghosn also handpicked former Nissan executives Mitsuhiko Yamashita and Vincent Cobee to help him rebuild Mitsubishi after its fuel-efficiency scandal. "And the third.is to respect people and consider them innocent as long as it has not been proven differently".

As boss of Renault, he took what many observers at the time thought was a gamble by saving Nissan from the brink of bankruptcy and tying it to the French firm.

Currently, Renault owns a 43.4 percent stake in Nissan, with Nissan in turn holding a 15 percent stake in its French partner.

As Renault now owns 44 per cent of Nissan's voting stock, it is legally capable of nominating whoever it wants to the role of chairman.

In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese automaker.

The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court.

Although Ghosn has been dismissed as chairman at Nissan, he remains on the board. He has been let out on bail under conditions that he should remain in Japan and should not destroy evidence. He was released on ¥1 billion bail last week.

His request and subsequent appeal were both rejected by the Tokyo District Court as part of his bail agreement prohibits him from contacting with Nissan executives or others potentially involved in the case against him. French prosecutors have opened a preliminary inquiry into how he financed his 2016 wedding at the Chateau de Versailles, French media have reported.

The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes.