Daily News

7. France: Nissan-Renault integration not on table

The French economic minister has denied news reports claiming the French government told Japanese officials that it wants to integrate Renault and Nissan Motor.

Bruno Le Maire made the denial on Sunday. Analysts say he may be worried the stories will fuel caution on the Japan side.

Le Maire said, "The issue is not on the table. What's on the table is the governance of Renault. The most important thing for us is to have solid, stable, sustainable governance for Renault."

The French government is Renault's largest shareholder.

Meanwhile, Le Maire told a French newspaper that there are no plans to adjust shareholdings and make Renault and Nissan have equal stakes.
The comments indicate he plans to maintain Renault's dominance in the alliance. This is despite growing calls within the Japanese automaker to review the capital relationship between the 2 firms.

Le Maire also floated a possible replacement for Renault Chairman Carlos Ghosn.

He praised Michelin chief executive Jean-Dominique Senard, saying he's widely recognized in the auto industry for his leadership skills.

Renault has kept Ghosn as its Chairman and CEO. But the French government has recently said he should be replaced due to a possible lengthy detention in Japan.

Renault will lay out its new management strategy in a board meeting to be held in the near future.