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Last Friday, the board of French carmaker Renault insisted it would pay chief executive Carlos Ghosn a package of 7.2 million euros for his services in 2015, despite a revolt by shareholders who disapproved of the deal which economy minister Emmanuel Macron on Tuesday denounced as “excessive”. In this opinion article, Mediapart’s economic affairs correspondent Martine Orange argues that Ghosn, who is also paid a yearly 8 million euros as head of Nissan, is typical of a new caste of cynical oligarchs who are unaccountable to anyone, even to the very shareholders who first launched them on a path of greed.
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