© Reuters. FILE PHOTO: Thierry Bollore, CEO of Renault, reacts after French carmaker Renault’s 2018 annual results presentation at their headquarters in Boulogne-Billancourt

By Gilles Guillaume

PARIS (Reuters) – The board of French carmaker Renault (PA:) on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter.

Renault, along with alliance partner Nissan (T:), is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies.

Bollore, who had long been Ghosn’s right-hand man, was promoted to help steady Renault this year, with Jean-Dominique Senard hired from Michelin (PA:) to chair the group, shares in which rose 2.7% in morning trade.

Officials at Renault were not immediately available to comment.

Bollore had skirted the matter of his potential exit in a conversation with staff on Thursday, two company sources said, but in a later interview with French newspaper Les Echos he described his possible departure as a “coup”.

Renault finance chief Clotilde Delbos could be named as interim CEO to replace Bollore, French TV BFM said on its website on Thursday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link