Monday , June 14 2021

The mayor wants to consolidate the alliance while Gon is in custody

The economy minister on Wednesday reiterated his "attachment" to the alliance between Renault and Nissan, while the Japanese automaker is expected to overturn Carlos Gosn, accused of fraud, as chairman of the board. The guardianship of the latter is prolonged in 10 days.

While the Renault-Nissan Alliance is in a crisis, Bruno Le Mara is trying to calm the game and reassure 47,000 Renault employees in France. The new governance, which temporarily put Renault at the helm, due to the arrest in Japan of Carlos Gosn – the powerful head of the world's largest auto company "Renault-Nissan-Mitsubishi" – ensures the smooth functioning of the group, conference. He was with Philip Lagayet and Thierry Bolore, who earlier on Tuesday nominated the French manufacturer to temporarily assume the duties of its CEO.

»READ OUT HERE – Case Carlos Gosn: Temporary Binomial at the helm of Renault

The French Economy Minister also reiterated his "attachment" to the alliance between Renault and Nissan, while the Japanese manufacturer is expected to overthrow fourth Carlos Gosn from the functions of board chairman. Bruno Le Mare also announced that he will receive his Japanese counterpart, Hiroshige Seko, on Thursday, in which he reiterated on Tuesday in support of France and Japan's support for the alliance.

"We have agreed that we want a continuation and consolidation of the Alliance," said Bruno Le Maire, while the French state is Renault's shareholder up to 15%. "There is a management at Renault's head, this management is solid and this management ensures the smooth running of the Renault company, which is an industrial flagship to which we are deeply committed," he said.

Carlos Gosn is in jail Monday in Japan, where he is charged by Nissan with financial fraud. Like Renault's board of directors, Bruno Le Maire on Tuesday night demanded that Nissan provide "all the elements" that support his accusations against Carlos Gosn. "At the moment we do not have any evidence to justify the ongoing charges against Carlos Gosn," he said.

Carlos Gosn remains in custody

According to Japanese media, the Japanese court has decided to extend Carlos Gon's detention for 10 days in order to continue ongoing investigations into suspicions of financial misconduct.

As a reminder, Carlos Gosn was arrested on Monday in Tokyo. The prosecutor's office criticized the French-Lebanese-Brazilian for "pledging to reduce its fees five times between June 2011 and June 2015", declared a total of 4.9 billion yen (about 37 million euros) for a place of nearly 10 billion yen. One of his associates, Greg Kelly, was also arrested at the same time, he also saw his extended detention period of 10 days, until November 30, according to the media. Earlier in the day, the press reported that Nissan's current Chief Executive, Hiroto Saikawa, who confirmed this issue on Monday evening, and the former number two Nisan Toshiuki Suga, also had to be heard. by investigators.

»READ OUT – Also in Tokyo, the rough conditions for Carlos Gosn's detention

The Nissan Group may also be subject to legal proceedings as a legal entity. According to the press, the prosecution considers that, if there is a mistake, the responsibility also lies in the company: indeed, it gave the authorities the inaccurate financial documents in which Carlos Gosn concealed a significant portion of his income. Persons who are materially involved in any falsification may receive a weaker penalty in case of co-operation with the law, according to a recent law that is currently only used in other cases.

The future of the alliance in question

Beyond the personal fate of Carlos Gosn, it is the whole Renault-Nissan-Mitsubishi Motors alliance, which orchestrated the fragile balance that collapsed after this thunder. According to the Financial Times, this case comes at a time when the CEO of all 10.6 million vehicles worked on a merger between Renault and Nissan, an operation that the Japanese manufacturer has rejected and tried to block from fear it would be in marble, it is serious status "second order" in the structure, always according to everyday life.

Carlos Gosnn wanted to make links "irreversible" between Renault and Nissan, commented Kentaro Harada, an analyst at SMBC Nikko Securities. "We can not rule out the possibility that the alliance will be weakened." "This will change the balance of power (between French and Japanese parties) is the main issue," he says.

The rating agency Standard & Poor's also announced on Tuesday that it plans to lower the rating of Nissan's long-term debt, especially due to suspicions of marriage with three. Securities of the three companies fell after the announcement of the arrest, but Nissan's shares returned a little Wednesday.

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