Nissan Motor CEO Carlos Ghosn said on Tuesday the Japanese automaker would continue to work with its partner Renault exactly as it has in the past.
After the two companies resolved a shareholding issue with the French government, Ghosn, CEO of both Nissan and Renault, told reporters at Nissan’s headquarters on Tuesday that the communication between the two parterns will continue as usual. “We want to put this behind us and allow us to continue…as two companies, with their own autonomy and their own structure of management, and develop synergies in the sphere of partnership,” said Ghosn. After eight months of struggle over power, the two automakers have reached a compromise that will supposedly balance the control of the French government within the alliance.
The agreement is agreement based on three points: the principle of the French government’s double voting rights within Renault to be maintained as of 1st April 2016, and a contract between the French government and Renault caps the French government’s voting rights at 17.9 percent, up to 20 percent in case of an unusually high quorum at the shareholders general meeting; no enfranchisement of Nissan shares in Renault; a contract between Renault and Nissan providing for non-interference in Nissan’s governance by Renault.
“Today was an important day for the future of the Renault-Nissan Alliance. After months of discussions, I am happy to say that an agreement has been reached that builds on our heritage and strong foundations to achieve further sustainable growth and success of the two partners. While there were important short-term issues to address, it was imperative that all involved took a long view,” Ghosn stated.