Renault Names Thierry Bollore Chief Executive, Jean-Dominique Senard Chairman

French carmaker Renault said Thursday that it had named Thierry Bollore as its new chief executive and Jean-Dominique Senard as board chairman, replacing former boss Carlos Ghosn following his arrest in Japan for alleged financial misconduct. Senard, currently the CEO of tyre giant Michelin, will represent Renault in its powerful alliance with Japanese carmakers Nissan and Mitsubishi, Renault added in a statement following a board meeting.

Bollore, the chief operating officer who had been Ghosn's heir apparent as CEO, has been running the company in the wake of Ghosn's sensational arrest in November. He will be tasked with coordinating Renault's side of "the alliance's activities in the operational field" under Senard's authority, the statement said. "The board expresses its confidence in the new leadership and wishes it every success in its mission," the statement said.

Ghosn, who remains behind bars in Japan, resigned as Renault CEO and chairman late Wednesday.  He had already been sacked as chairman of Nissan and Mitsubishi over accusations that he under-reported his income by millions of dollars over several years. The Renault statement said merely that the board had "taken note" of Ghosn's resignation. But it added: "The board praised the alliance's track record, which has enabled it to become the world's leading automobile manufacturer."

Senard will be tasked with evaluating whether changes to Renault's governance will be necessary "in order to ensure the transition to the new structure" splitting the roles of chairman and chief executive, the statement said. He is to present his proposals to the Renault board before the next general shareholders' meeting.

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