A Nissan logo is pictured during the media day for the Shanghai auto show in Shanghai, China. File photo/Reuters
Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan's planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday.
Renault, which owns 43.4% of Nissan, informed its Japanese affiliate in a letter signed by Chairman Jean-Dominique Senard that it planned to abstain in a shareholder vote on the plans, the Financial Times reported on Sunday.
Renault has signalled it will block reforms launched by Nissan in the wake of the Carlos Ghosn scandal unless it is granted representation on new board committees, a source close to the French car maker has told Reuters.
Nissan was not immediately available for comment on the issue.
Renault’s alliance with Japanese partner Nissan remains French Finance Minister Bruno Le Maire’s priority ahead of any further consolidation with the likes of Fiat-Chrysler, he said on Tuesday.
French automaker Renault, its Japanese partner Nissan Motor Co and tech giant Alphabet’s Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday.
France is ready to consider cutting its stake in Renault in the interests of consolidating the automaker’s alliance with Nissan, Finance Minister Bruno Le Maire said on Saturday.
The success of the “Border Haats” with Bangladesh has prompted other northeastern states of India to go for similar arrangements with Myanmar. At the instance of the Mizoram government,
UAE-based IBC Group announced on Tuesday that it intends to acquire 10,000 premier properties in Dubai, to furnish and manage as holiday homes, and has contracted Berkshire Hathaway Home Services Gulf Properties
Japan has approved shipments of a high-tech material to South Korean (SK) market for the second time since imposing export curbs last month, two sources said, ahead of talks by government officials this week to resolve a dispute stemming
BHP Group posted its largest annual profit in five years and record full-year dividends, but its share price eased as the world’s biggest miner flagged global economic headwinds that could hit demand for its key commodities, iron ore and copper.