Renault board pressures Carlos Ghosn to resign, paper says
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January 22, 2019 06:26 AM

Renault board wants Ghosn to resign, paper says

Automotive News Europe staff and wire reports
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    Ghosn remains in detention in Japan ahead of a trial that could be as long as six months away.

    PARIS -- Renault's board is pressuring the automaker's jailed CEO and chairman Carlos Ghosn to resign, Les Echos newspaper said.

    Other reports said Renault has called for a board meeting to discuss how to replace Ghosn.

    The Renault nominations committee has tentatively backed Michelin boss Jean-Dominique Senard to become Renault chairman, as widely expected, while Ghosn's deputy Thierry Bollore would take the full CEO role, two sources told Reuters.

    Ghosn will not receive any severance pay from Renault, Les Echos said, but the automaker is talking with Ghosn's lawyers about his pension rights and deferred compensation, which could be more than 1 million euros ($1.14 million), the paper said.
    Though his lawyers Renault's board is trying to persuade Ghosn to resign, Les Echos said.

    Bail rejected

    Ghosn's latest request for bail was rejected by a Tokyo court on Tuesday, despite the ousted Nissan chairman offering to wear an electronic ankle tag in an unusual bid to win release after two months of detention for alleged financial crimes.

    The ruling raises the likelihood that the 64-year-old executive will remain in custody as prosecutors continue to build their case ahead of an eventual trial that could be as long as six months away.

    Ghosn has been in detention since Nov. 19, accused of financial crimes that could put him behind bars for decades. He has been indicted for understating his income at Nissan by tens of millions of dollars and transferring personal trading losses to the carmaker.

    Nissan also claims that Ghosn misused company funds, including for homes from Brazil to Lebanon, and hired his sister on an advisory contract. Ghosn has denied wrongdoing.

    Reuters and Bloomberg contributed to this report.

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