France Weighs in on Ghosn’s Treatment

The French government, which owns 15% of Renault SA, has warned the company against awarding an “exorbitant” severance package to ex-Chairman and CEO Carlos Ghosn.

Finance Minister Bruno Le Maire tells France Inter radio that the government will be “extremely vigilant” about the executive’s exit package at Renault. Last week the carmaker’s board voted to replace Ghosn, following his arrest on Nov. 19 on charges of financial misconduct as chairman of Nissan Motor Co.

Separately, President Emmanuel Macron complains that Ghosn’s detention by Japanese prosecutors has been both “very long” and “harsh.” He told reporters on Sunday that he has expressed his concern several times to Japan Prime Minister Shinzo Abe.

Renault owns 43% of Nissan and exercises considerable control over the 20-year-old alliance between the two car companies. Last week Macron opined to Abe that Jean-Dominique Senard, Renault’s new chairman, also should chair Nissan.

Nissan has chafed over the French government’s influence over both Renault and the partnership. The Japanese company has been especially wary of the government and Renault’s desire to merge the two automakers.