Nissan overwhelms Renault

Text by: David Baché

Nissan shareholders violently attack the French group Renault. The two groups are part of the same alliance, also with Mitsubishi, but the Carlos Ghosn affair at the end of 2018, with the ouster of the former boss following accusations of massive embezzlement, and who has since taken refuge in Lebanon, had aroused antagonisms. The latter therefore spoke forcefully on Sunday at a general meeting of the Japanese manufacturer. 

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" The French may be excellent in the arts, but in technology they are weak! This attack by a small Nissan shareholder against its French Renault allies is perhaps the most amusing and least violent of all the charges made during the Japanese automaker's general assembly.

Nissan shareholders were once again indignant at the governance of the alliance, Renault holding more than 40% of Nissan while Nissan only holds 15% of the French manufacturer, without voting rights.

An imbalance that the fall of former boss Carlos Ghosn, at the end of 2018, had returned to the heart of the tensions between the two allies. These tensions have apparently not disappeared, they have even been aggravated by the difficulties of Nissan, which lost nearly 6 billion euros in 2019-2020, even before the difficulties linked to the coronavirus, which will obviously not help to go back up the slope.

Nissan shareholders have received no dividends this year, and the group's chief executive does not anticipate being able to do so for another two years.
Makoto Uchida who could only make one proposal to its shareholders: "  If the results do not improve, fire me!"  "

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