Renault posts record sales as Ghosn successor sought

Mitsubishi board considers new allegations against Ghosn

The French government on Wednesday called for former Nissan Chief Carlos Ghosn (pic), who has spent the last two months in Japanese custody, to be replaced as chief executive of carmaker Renault. However, the companies said, neither of the two knew anything about it.

Ghosn this week lost his bid for bail, and will have to cool his heels in a Tokyo jail until his trial begins, in March at the earliest, but possibly later.

The French state and its advisers are also considering candidates for the Renault Chief Executive role now occupied on an interim basis by Ghosn's deputy Thierry Bollore.

And electric vehicle sales jumped 37 per cent, led by the Zoe, though they still represented just under 50,000 cars sold past year.

Renault expects to deliver sales growth in 2019, despite the imminent ouster of chairman and chief executive Carlos Ghosn and tension with alliance partner Nissan.

But his days as Renault boss appear numbered.

Nissan and Mitsubishi have accused their former common chairman, Carlos Ghosn, of giving himself an improper payment of nearly $9 million from their Netherlands-headquartered joint venture, which was founded in 2017.

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The 64-year-old business leader, indicted on charges of misreporting his corporate salary and using the company's money for his own purposes, saw his request for release on bail rejected by Tokyo court on Tuesday.

The French state is Renault's biggest shareholder, owning a 15-per cent stake.

"Too much power would appear to have accrued to one person, so it is important to try and develop a leadership team that can continue the work of the alliance".

French daily Le Figaro said Sunday was a likely date, but on Thursday no invitations had been sent out to board members who must be informed 48 hours before a meeting.

Mitsubishi also said it "will further investigate the cause and consider action to pursue liability against Ghosn in collaboration with Nissan". "But we will do things in the proper order and when we are ready", Lagayette said.

She had yet to be held to Ghosn, in Japan serious breach of trust and financial violations accused.

Earlier, it was claimed, France's Finance Minister, Bruno Le Maire, a rapid meeting of the Board on the grounds that the auto makers need a new and consistent group management.

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