Renault Board To Replace Ghosn Thursday

French carmaker Renault said Tuesday that it would hold a board meeting Thursday to name a replacement for its boss Carlos Ghosn, who remains in custody in Japan over alleged financial misconduct

Paris, (UrduPoint / Pakistan Point News - 22nd Jan, 2019 ) :French carmaker Renault said Tuesday that it would hold a board meeting Thursday to name a replacement for its boss Carlos Ghosn, who remains in custody in Japan over alleged financial misconduct.

Sources close to the discussions told AFP that the company would put forward Thierry Bollore to replace Ghosn as chief executive and Michelin chief Jean-Dominique Senard as board chairman. Ghosn currently holds both roles.

Ghosn has already been stripped of his positions as chairman of Nissan and Mitsubishi in the wake of the allegations.

The French government, Renault's biggest shareholder with a stake of more than 15 percent, is particularly keen to see the company appoint a new leader.

Ghosn, who was arrested on November 19, is set to remain behind bars for the forseeable future after a Tokyo court denied him bail on Tuesday.

Prosecutors suspect he under-declared his income in official statements to Nissan shareholders between 2010 and 2015 to the tune of some five billion Yen ($46 million), apparently in an attempt to avoid accusations he was overpaid.