Renault removes Thierry Bolloré as CEO

  • Renault removes Thierry Bolloré as CEO

Renault removes Thierry Bolloré as CEO

PARIS (AP) - French carmaker Renault dismissed its CEO on Friday, an attempt to revitalize its alliance with Nissan, which was shaken by the jailing of the companies' previous chief, Carlos Ghosn.

Renault officially announced the move in a press release on Friday, confirming the Board of Directors "decided to end the mandate of Mr Thierry Bolloré as Chief Executive Officer of Renault SA and President of Renault s.a.s with immediate effect".

The report comes from French newspaper Le Figaro, saying that Renault Chairman Jean-Dominique Senard will ask the board to begin the search for a successor to Bollore in the next board meeting scheduled for October 18.

Whatever the reason, Bollore is out, and Renault's shares actually rose after the announcement.

French vehicle giant Renault has appointed chief financial officer Clotilde Delbos to the top job on an interim basis, as it looks to make a fresh start and rebuild relations with its Japanese partner Nissan.

"The brutality and the totally unexpectedness of what is happening is stunning", Bollore told financial daily Les Echos. She will be assisted by Olivier Murguet, Exec VP for sales and marketing, and José-Vicente de los Mozos who is, among other things, Groupe Renault's Exec VP for manufacturing.

"I have always been loyal to him", he added, while calling on the French state, which owns 15 percent of the firm, to ensure "good governance" so as not to "destabilise Renault".

Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French government influence in the alliance.

Nissan Motor has appointed a new CEO to replace Hiroto Saikawa.