• Tweeter

  • republish

Carlos Ghosn, then CEO of Renault, during a conference in Sandouville on September 30, 2014. CHARLY TRIBALLEAU / AFP

The board of directors of the French car manufacturer Renault on Thursday (January 24th) appointed Jean-Dominique Sénart as president and Thierry Bolloré as president and general manager respectively, replacing Carlos Ghosn. He is still imprisoned in Japan, where he must be tried for suspicion of financial malpractice under the Renault-Nissan-Mitsubishi alliance. Carlos Ghosn resigned from Renault to give way to his successors. The question of his compensation is already debated.

Carlos Ghosn's departure conditions have not yet been decided. But the French state, Renault's largest shareholder, warned that it would be " extremely vigilant ".

The unions, which have always denounced the " stratospheric " compensation of Carlos Ghosn, will be no less: " We will not let anything do , says Franck Daoût, central delegate at Renault for the CFDT. We know that there will be no golden parachute, but there will be other allowances that must be discussed. For example, the actions he had for a year or two that he should touch. Since he is no longer in the business, in my opinion, there is not even any discussion on this subject. And that represents tens of millions of euros. "

The remuneration of Carlos Ghosn is partly fixed - 1 million euros for 2018 - and partly variable, depending on performance indicators: an additional 1 million euros possible. Not to mention non-competition clauses, retirement rights that are based on the time of presence.

What give work to Renault's compensation committee. The question of compensation to which the former CEO of Renault Carlos Ghosn can claim will be settled at a remuneration committee of the company that has not yet been convened.

" He must be given the salary he is entitled to, because he has not been sentenced , explains Anne-Catherine Husson-Traoré is director of Novethic, specialist in sustainable finance. On the other hand, in a context of legal threat, of a file which goes out in the press, the idea that the planned package can be applied and in addition to be admitted by everybody, it seems very complicated. "

Renault will therefore seek to reduce the cost of leaving Carlos Ghosn, while avoiding that a challenge to the former CEO will end up costing him even more.