Renault CEO Bollore fired

Renault CEO Bollore fired

Paris: French automaker Renault sacked its chief executive Thierry Bollore Friday, the latest turbulence to rock the company since his predecessor Carlos Ghosn was arrested on financial misconduct charges past year.

Renault Chief Financial Officer Clotilde Delbos could be named as interim CEO to replace Thierry Bollore, French TV BFM said on its website on Thursday.

He said three members of Renault's 18-strong board abstained in the vote to remove Bollore, who hit out at his looming dismissal in a newspaper interview the night before, calling it a coup.

According to the Financial Times, Bolloré was considered by alliance partner Nissan to be a "disruptive force" and didn't do enough with regards to Ghosn's arrest over financial misconduct allegations a year ago.

"We're at a new stage now for this alliance".

At a news conference to explain the decision to oust Bolloré, Senard said it was meant to "breathe new life" into the alliance with Nissan.

- Turbulent year - Senard was brought in from tyremaker Michelin as board chairman, tasked with stabilising Renault and its alliance with Nissan and Mitsubishi in the wake of Ghosn's arrest.

The surprise announcement came after rumours of a management shake-up appeared in French newspapers earlier this week, and is understood to be an effort by the brand to further distance itself further from former boss Carlos Ghosn.

A source close to the company told AFP that Bollore had made his case at the board meeting, where "he was blamed for management and performance failings". She and Senard both previously worked at aluminum producer Pechiney, which Delbos joined in 1992, climbing through various audit and finance-related roles over two decades.

Mr Uchida is known for close ties to Renault, which could help ease tensions in the alliance.

"The brutality and the totally unexpected nature of what is about to happen is stupefying", he said, adding "I was always loyal to him".

Speaking to staff on Thursday in an internal video exchange, Bollore referred to the media buzz and said that what mattered for the company was its alliance with Japan's Nissan Motor Co Ltd, and that it was "not a question of people", the Renault sources said.

"What is at stake is not me personally but the future of Renault and its 186,000 employees", he told Les Echos.

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