<a href="https://www.wionews.com/world/renault-to-block-nissans-plan-to-overhaul-governance-structure-report-225818">Nissan Motor Co </a>is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm.

Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees.

Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said.

“Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.”

Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement&nbsp;with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees.

Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role.

Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating.

“There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said. The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm. Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees. Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said. “Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.” Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees. Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role. Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating. “There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan considers giving Renault some seats on oversight committees: Source

Nissan shareholders are expected to eject <a href="https://www.wionews.com/world/ghosn-to-name-names-as-wife-flees-tokyo-208592">Carlos Ghosn</a> from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19.

Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard.

They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan.

Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board.

Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds.

Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht.

Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends.

On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing.

This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon.

'It's a plot'

His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release.

He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country.

Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise.

However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial.

"It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names."

"Some of them you have seen in the press, but there are others that haven't been in the press," he said.

He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault.

The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged.

"I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody. The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19. Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard. They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan. Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board. Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds. Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht. Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends. On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing. This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon. 'It's a plot' His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release. He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country. Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise. However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial. "It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names." "Some of them you have seen in the press, but there are others that haven't been in the press," he said. He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault. The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged. "I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders meet to sack Ghosn from its board

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.

"Carlos Ghosn just resigned last night," said Le Maire.

Renault's board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn's arrest in Japan for alleged financial misconduct.

The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn's deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters.

The Tokyo District Court on January 15 denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust.

Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos. "Carlos Ghosn just resigned last night," said Le Maire. Renault's board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn's arrest in Japan for alleged financial misconduct. The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn's deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters. The Tokyo District Court on January 15 denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust. Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

Carlos Ghosn resigned from Renault on January 22