This Wednesday, Renault and Nissan will formalize their new mutual holdings in the two groups. This “realignment” was by no means a mystery and was in fact one of them expected consequences of the Carlos Ghosn affair.
Previously, as Challenges reports, Renault controlled 43.4% of Nissan, compared to Nissan’s 15% stake in Renault, which also has no voting rights. At the end of this day The two groups should each hold 15% of the sharesall associated with voting rights.
Renault officially says goodbye to control of Nissan (and the alliance)
The last few weeks seem to have given a boost to the breakup of the alliance between Renault and Nissan. Monday, November 6, 2023, both parties dissolved Allianz purchasing organizationa company with 85 billion euros in sales in 2022 – which acted as a joint purchasing center.
On the same day, Renault employees were told in an internal email that they had to do this immediately Stop sharing data with your colleagues at Nissan and Mitsubishi. There are two survivors of this divorce. The first is the European Nissan Micra, which will be well marketed.
Nissan will also invest 600 million euros in Ampere, the new Renault subsidiary that will bring together all of the manufacturer’s electrical activities. Both parties reserve the possibility of working together again in the future, but only in individual cases.
How did we get here?
Carlos Ghosn, the former CEO of the Renault-Nissan-Mitsubishi automotive alliance, and Greg Kelly, his right-hand man They are accused by the Japanese judiciary of having concealed part of their income from the stock exchange authoritiesof abusing Nissan’s trust and misappropriating company funds for personal purposes.
Carlos Ghosn and Greg Kelly were like that arrested in Japan on November 19, 2018after an internal investigation conducted by Nissan in collaboration with certain executives and the Tokyo Public Prosecutor’s Office before he was committed several months in custody.
After the two leaders were released on bail Carlos Ghosn organized his successful escape from Japan End of December 2019. An incredible story: He had to hide in a suitcase full of musical instruments. Destination: Lebanon, where he benefits from dual citizenship.
For his part, Greg Kelly remained in Japan and was tried by the Tokyo court, which sentenced him to six months in prison in March 2021. Carlos Ghosn and Greg Kelly have always maintained their innocence and condemned the manipulation orchestrated by Nissan to oust them from leadership of the alliance.
After you, Nissan feared that Carlos Ghosn would strengthen Renault’s control over the Japanese company, to the detriment of his autonomy and his interests. They also accused the Japanese judiciary of bias and violating their fundamental rights.
For his part, Carlos Ghosn recalls a political conspiracy Participation by the Japanese government and the French state, a 15 percent shareholder in Renault. He criticizes, among other things, the Elysée for not supporting him and of having given in to pressure from Japan to rebalance the alliance in Nissan’s favor.
As for the escape of the ruler himself, what was supposed to happen happened: Apple TV+ has just adapted the story into an exciting miniseriesavailable on the platform since the end of August.
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