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June 25, 2019Nissan is ready to review its shareholding in the alliance with Renault should it become necessary. The number one of the Japanese car company said this on the sidelines of the shareholders' meeting, starting this morning in Yokohama, the headquarters of the Japanese company. Saikawa also said he considered the merger project "non-competitive for Nissan".

On the agenda of the meeting there will be the project of corporate governance reform and the confirmation of Saikawa in the role of president and managing director of the Japanese car company. After the arrest of the former president of the group, Carlos Ghosn, accused of financial crimes by the Japanese justice system, Nissan aims at the establishment of three committees - appointments, audits and remuneration - in an attempt to reform the corporate hierarchy and return to profitability. In the meantime, in order not to get in the way of a possible abstention from the transalpine company - Nissan's largest shareholder of reference with 43% -, it approved the appointment of Renault's managing director, Thierry Bollore, as a member of one of the committees, in addition to to that already planned by President Jean-Dominique Senard. The latter will also be the vice president of the board of directors. Nissan controls just 15% of Renault and without voting rights. In 2018 the Japanese manufacturer sold 5.65 million cars, compared with Renault's 3.88 million, but profitability is falling and for the first time in ten years it has recorded a decline in operating profit.