Renault Rift with Nissan Widens
June 10, 2019—Renault, which owns 43.4 percent of the Japanese firm, signaled it would block Nissan from formally adopting an overhauled governance structure at an upcoming June 25 shareholder meeting—unless Renault received representation on new Nissan committees, reported Reuters.
Nissan responded, calling the demand “most regrettable”.
The rift lays bare the deep strain between the two automakers, whose alliance has been under pressure since the arrest of former chairman Carlos Ghosn in November. What’s at stake now may be even bigger than their vast alliance, which includes Mitsubishi Motors.
Renault and Fiat Chrysler Automobiles (FCA) are looking for ways to resuscitate their collapsed merger plan and secure Nissan’s approval for that deal, Reuters reported.