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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.