Seeds of Renault-Nissan crisis sown in Macron's 'raid' [Reuters]
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Source: Reuters
Seeds of Renault-Nissan crisis sown in Macron's 'raid' | Reuters 10 Min Read PARIS (Reuters) - The arrest of Renault-Nissan boss Carlos Ghosn has triggered new attempts by the Japanese carmaker to shake off the control of its French parent - adding to the problems piling up on President Emmanuel Macron’s desk in the Elysee Palace. But this one, more than most, may be of Macron’s own making. In April 2015, as a 37 year-old economy minister with then-unknown presidential ambitions, Macron ordered a surprise government stake increase in Renault, designed to secure double voting rights for the state. The overnight move profoundly rattled the Japanese end of the Renault-Nissan alliance. In the ensuing eight-month boardroom fight between Macron’s ministry and Hiroto Saikawa - Nissan’s second-in-command at the time - many now see the seeds of today’s crisis. When Ghosn’s Gulfstream touched down in Tokyo on Nov. 19, prosecutors were waiting. Nissan, the company he rescued from bankruptcy and
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