Groupe Renault statement ref Carlos Ghosn

20.11.2018: Groupe Renault, which acknowledges the first statement from the Tokyo District Public Prosecutor Office in connection with the judicial proceedings regarding Mr. Carlos Ghosn, is fully engaged and monitors carefully

Groupe Renault, which acknowledges the first statement from the Tokyo District Public Prosecutor Office in connection with the judicial proceedings regarding Mr. Carlos Ghosn, is fully engaged and monitors carefully the development of the situation.

 

Thierry Bolloré, Chief Operating Officer Groupe Renault, is specifically in charge of the continuity of the Executive Committee of Groupe Renault, in permanent contact with the Board of Directors of Groupe Renault, the Lead Independent Director and the Committees of the Board.



 All corporate governance procedures are fully functional, allowing Groupe Renault to pursue the normal course of its industrial and commercial operations.

 

Groupe Renault ensures on a daily basis the efficiency of its partnerships within the framework of the Alliance and is particularly focused on the consolidation of the Renault Nissan Mitsubishi Alliance.

 

A meeting of the Board of Directors of Renault will be held this evening.


Astrid DE LATUDE

 

 


BACKGROUND:


Tokyo prosecutors confirmed on Tuesday (Nov 20) that they had arrested auto industry titan Carlos Ghosn a day earlier on allegations he under-reported his income over the course of several years.

In a statement, prosecutors said Ghosn, 64, had reported income of 4.9 billion yen (S$70.6 million) over five years when his actual income for that period had been nearly 10 billion yen.

By mid-day Tuesday, Nissan Motor Co was the most-traded stock by turnover and tumbled 6.5 per cent to 940 yen, its lowest since July 2016.


On Tuesday there were still many unanswered questions about the allegations against a man long credited with an almost magical ability to turn around ailing auto companies.

 (Reuters 20.11.2018)

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20.11.2018 / MaP

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