Renault to Nissan: Don’t Talk to Our Board Members

Renault SA has cautioned alliance partner Nissan Motor Co. not to contact its directors to review evidence that former Nissan Chairman Carlos Ghosn failed to declare €38 million ($43 million) in compensation, Reuters reports.

Renault and the French government, which owns 15% of Renault, have asked to see Nissan’s evidence of wrongdoing. Last week Nissan offered to share its findings with Renault’s board, where Ghosn remains as chairman.

But Thierry Bollore, who is acting as CEO on Ghosn’s behalf, advised Nissan’s lawyers to present their findings only to Renault attorneys, a source tells Reuters. Bollore requested that Nissan refrain from approach board members directly ahead of their scheduled meeting tomorrow.

Renault, which is conducting its own audit of Ghosn’s compensation, is expected to discuss his future with the company and the Renault-Nissan-Mitsubishi alliance.

France had been pressuring Ghosn to coax Nissan into a full merger with Renault. Nissan CEO Hiroto Saikawa said in May that Nissan seeks a more balanced cross-holdings for the alliance but opposes a merger. Saikawa has led Nissan’s effort to prosecute Ghosn and remove him from power.