Ghosn Bullish on Macron Election in France

Renault SA CEO Carlos Ghosn predicts stronger growth ahead for French companies as a result of Sunday’s election of Emmanuel Macron as the country’s next president.

Ghosn tells Bloomberg News that Macron’s support of the European Union and global markets is “very good news for all companies and for all enterprises.” Macon’s rival, protectionist candidate Marine Le Pen, vowed to drop the euro, exit the EU and pressure French companies to repatriate jobs.

Macron’s more moderate position also may coax the French government to shed at least some of its 19.7% stake in Renault. Ghosn has said Renault and partner Nissan Motor Co. could strengthen their 18-year-old alliance if the state bowed out. Renault currently owns 44% of Nissan, and Nissan holds a 15% nonvoting stake in Renault.

Whether Ghosn could face other pressures from Macron is unclear. As former economy minister, Macron pushed in 2015 to trim Ghosn’s compensation and was instrumental in hiking the state’s equity holding in Renault.