Renault’s New Chairman to Join Nissan’s Board

Nissan Motor Co. is expected today to nominate Renault SA’s new chairman to join its board, replacing Carlos Ghosn.

Renault chose Michelin CEO Jean-Dominique Senard late last month to replace Ghosn as its chairman in April. Ghosn was stripped of the chairmanships of both companies after being arrested in mid-November on charges of financial wrongdoing at Nissan.

Senard’s final approval as a Nissan board member will come in a special shareholder meeting in mid-April. Last month the French government, which owns 15% of Renault, opined that Renault’s new chairman also should chair Nissan. Renault owns a 43% stake in the Japanese carmaker.

Senard and Nissan CEO Hiroto Saikawa met face-to-face for the first time last week during a meeting of the entity that manages the 20-year-old alliance between Renault and Nissan. Saikawa tells reporters the discussions were positive regarding the future of the partnership following Ghosn’s downfall.