Keyword: Renault

French carmaker Renault to cut structural costs by 2bln euros

French carmaker Renault on Friday announced it would seek a cut in operating costs of 2 billion euros over the next three years, hinting at a major cull in jobs, after it reported net losses of 141 million euros in 2019, the first in a decade, due to lower sales and a falling contribution from its Japanese partner Nissan.

Carlos Ghosn and his taste for spooks

By
Carlos Ghosn during a press conference in the Lebanese capital Beirut, January 8th 2020. © Joseph Eid/AFP Carlos Ghosn during a press conference in the Lebanese capital Beirut, January 8th 2020. © Joseph Eid/AFP

Former Renault chief executive and Nissan chairman Carlos Ghosn's secret escape from Japan on December 29th, when he was allegedly smuggled out of the country in a musical instrument box by hired former special services veterans, was as dramatic as his arrest there one year earlier on charges of serious financial misconduct. But the manner of his flight bore all the hallmarks of the use over two decades by the one-time titan of the world’s carmaking industry of private security personnel, both to spy on his staff but also shareholders and board members. Mediapart's Matthieu Suc, author of a recent book detailing Ghosn’s seeming obsession with surveillance, reports.

Ex-Renault boss Ghosn: decision to flee Japan was hardest of my life

Speaking at a news conference in Lebanon, Ghosn described himself as a 'hostage' in Japan with a choice between dying there - or running.

Carlos Ghosn: how did ex-Renault boss flee from Japan?

One Lebanese TV channel reported that Ghosn fled his residence in Tokyo with help of paramilitary group disguised among a band of musicians.

Story behind ex-Renault boss Carlos Ghosn's decision to flee Japan for Lebanon

By
Carlos Ghosn on October 6th, 2017 © Reuters Carlos Ghosn on October 6th, 2017 © Reuters

The former Renault chairman and CEO, Carlos Ghosn, has travelled to Lebanon having fled from Japan where he was on bail facing charges of alleged financial wrongdoing. Ghosn, who was also chairman of Renault's Japanese partner Nissan, and who has always claimed his innocence, immediately justified the extraordinary move by saying he no longer wanted to be “held hostage by a rigged Japanese justice system where guilt is presumed”. From the start of the affair Ghosn has claimed he is the victim of a plot, while largely avoiding details of the allegations against him. Mediapart's Matthieu Suc, author of a recent book on Renault, reports.

Ex Renault-Nissan boss Ghosn says he fled ‘political persecution’

Carlos Ghosn, who was awaiting trial in Japan on financial misconduct charges, says he is in Lebanon to avoid a 'rigged Japanese justice system'.

Renault profit warning deepens carmaker's problems

French carmaker Renault, which last week sacked its CEO Thierry Bolloré, who himself replaced Carlos Ghosn after the latter's arrest last year in Japan where he is still detained, saw its shares tumble on Friday after issuing a profit warning and announcing 2019 sales were likely to drop by up to 4%.

Wife of detained ex-Renault-Nissan boss appeals to Trump for help

Carole Ghosn, wife of Carlos Ghosn who was arrested in Japan last November on accusations of financial misconduct, has appealed to US President Donald Trump to help end his continued detention in Tokyo by lobbying the Japanese prime minister at the forthcoming G20 summit.

French minister says Renault could reduce Nissan stake to save alliance

French carmaker Renault, partly state-owned, could reduce its stake in its Japanese counterpart Nissan in an effort to save the strained commercial alliance between the two marques, said France's economy and finance minister Bruno Le Maire, adding that French plans for a merger between the two, resisted by Nissan, could be abandoned.

France seeks to fend off blame for collapse of Fiat-Renault deal

Fiat-Chrysler pulled out of the talks, saying the 'political conditions' in France did not currently exist for such a merger to proceed successfully.

Fiat Chrysler proposes merger with Renault

Combined business would be 50% owned by Fiat shareholders and 50% by Renault stockholders, making new merged firm a global leader.

Fiat Chrysler and Renault 'in talks over alliance deal'

Italian-US carmaker Fiat Chrysler and France's Renault are in talks to consider forming an industrial partnership, according to several sources cited in media reports.

Why plans to cap top-up pensions for France's bosses are just for show

By
Left to right: Carlos Ghosn, formerly of Renault, Tom Enders who is leaving Airbus and Thierry Pilenko of TechnipFMC. © Reuters Left to right: Carlos Ghosn, formerly of Renault, Tom Enders who is leaving Airbus and Thierry Pilenko of TechnipFMC. © Reuters

Over the years there have been repeated scandals about the lavish top-up pensions awarded to the bosses of some of France's biggest firms, most recently involving Renault, Airbus and energy industry engineering firm TechnicFMC. Now, in a bid to end such controversies, the government's finance minister Bruno Le Maire is promising legislation to restrict the level of these lucrative perks. But as Mediapart's Martine Orange reports, the measure already looks as if it will be little more than window dressing.

Ex Renault boss Ghosn appeals for French help after new Japan arrest

Former Nissan boss is put back under arrest over allegations he misused company funds, a surprise move he calls 'outrageous and arbitrary'.

Ex-Renault boss Ghosn says 'plot and treason' behind arrest

Carlos Ghosn said some Nissan executives wanted to stop his plan to integrate Renault with its Japanese alliance partners, Nissan and Mitsubishi.