France Wants Renault Board to Replace Ghosn

The French government, which holds a 15% stake in Renault SA, is calling for the company’s board to consider a replacement for jailed Chairman and CEO Carlos Ghosn.

Sources tell Reuters that the state, which controls two Renault board seats, wants the nominations committee to suggest candidates for review by a special full board meeting on Jan. 20.

Reuters’ sources says Jean-Dominique Senard, currently CEO of tiremaker Michelin & Cie., is a likely pick for chairman. There are several candidates for the CEO position. The sources list Didier Leroy, Toyota’s chief planning officer; Phiippe Guillemot, group CEO of food services giant Elior Group SA; and an unidentified third prospect.

Another contender is Thierry Bollore, Renault’s chief operating officer. Bollore took over as interim CEO shortly after Ghosn was arrested in Japan on Nov. 19. Ghosn, who had been chairman of Nissan Motor Co., is charged with failing to report $43 million in deferred compensation and assigning personal currency trade loses to the company.