Jean-Dominique Senard, Chairman of Renault SA, is set to resign from Nissan Motor Co.’s board of directors, marking a significant shift in leadership for the Japanese automaker, Bloomberg reports.
The move follows Nissan’s unsuccessful attempt to merge with Honda Motor Co., signaling a broader restructuring effort within the company.
Another Renault representative, Pierre Fleuriot, will also step down from Nissan’s board. Renault plans to appoint replacements for both positions, granting them a voice in key decision-making as new Nissan Chief Executive Officer Ivan Espinosa aims to stabilize the company’s finances and forge strategic partnerships.
The proposed merger between Nissan and Honda was formally abandoned in February, with sources indicating that both Senard and Fleuriot had opposed the plan. Senard, 72, described the failed deal in March as “extremely rapid, a little brutal,” adding that it wasn’t in Renault’s best interest. Despite the gradually loosening alliance between the two automakers, Renault remains Nissan’s largest shareholder.
Nissan is currently grappling with declining sales in key markets like the US and China. The company is implementing measures to cut jobs and production in anticipation of a substantial debt repayment due next year. Espinosa’s recent appointment as CEO, replacing Makoto Uchida, is part of a larger management reshuffle that also includes the addition of new technology and production chiefs.
The company has faced numerous challenges since the 2018 ouster of former chairman Carlos Ghosn, who had previously rescued Nissan from near-extinction.
Senard joined Nissan’s board in 2019 in the wake of Ghosn’s arrest, playing a key role in improving corporate governance and reshaping the company’s leadership team, including the transition to a new supervisory committee structure. Fleuriot, 71, joined the board in 2020.
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