Paris: Carlos Ghosn is no longer fit to lead Renault following his arrest in Japan, said French Finance Minister Bruno Le Maire on Tuesday.

“Carlos Ghosn is no longer in a position capable of leading Renault," Le Maire told France Info radio.

Nissan said on Monday that an internal investigation had revealed that Ghosn engaged in wrongdoing including personal use of company money and under-reporting for years how much he was earning. He was arrested and would be fired from Nissan’s board this week, added Nissan.

Also read: What toppled Nissan chairman Carlos Ghosn? Questions swirl around property deals

The French state owns 15% of Renault, which in turn holds a 43.4% stake in Nissan.

Le Maire said he would contact his Japanese counterpart over the matter, and reiterated that France’s priority was to ensure the stability of the Renault company.

Le Maire added that Renault’s partnership with Nissan was in the interests of both France and Japan and of both companies.

Also read: Opinion | Separating the Renault-Nissan twins would be bloody

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Close