RENAULT (PA: RNO) AND NISSAN (T: 7201) CLASH OVER PLANNED GOVERNANCE REFORMS
- Renault wants more say in the new governance system
- The French automaker is Nissan’s biggest shareholder
Renault (PA: RNO) will block Nissan Motor Co. (T: 7201) from adopting planned governance reforms unless they are given more control in the new system. Renault is Nissan’s biggest shareholder.
“We firmly believe that Renault’s rights as 43.4% shareholder of Nissan need to be fully recognized and, at a minimum, one or two directors proposed by Renault should be members of each of the three committees,” said Renault in the statement.