Renault board removes Thierry Bollore as CEO

Renault board removes Thierry Bollore as CEO

The board of French vehicle maker Renault on Friday voted to oust Thierry Bollore as CEO, naming the firm's financial director Clotilde Delbos to take over his job on an interim basis.

Bollore was named Chief Operating Officer past year by then Chairman Carlos Ghosn.

Bollore's departure had been speculated on since French daily Le Figaro reported on its website late Tuesday that he had a hard relationship with board chairman Jean-Dominique Senard.

While Renault was expected to look at shaking up its management at some stage - Senard had a mandate to overhaul governance at the firm as well as strengthen ties with Nissan - Bollore's fate was sealed swiftly and dramatically this week.

The company said Bolloré will be replaced on an interim basis by Chief Financial Officer Clotilde Delbos. The decision by the board on Friday Oct. 11, 2019, to dismiss Thierry Bollore was effective immediately.

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A number of Renault's top executives also left the company recently, with many of them heading to rival PSA, indicating that relations with Bollore are not what they should be.

Nissan picked Makoto Uchida, previously the head of its Chinese business, to replace Hiroto Saikawa, who stepped down as CEO in September after he admitted to being improperly overpaid.

"The brutality and the totally unexpected nature of what is about to happen is stupefying", he said, adding "I was always loyal to him".

Nissan doesn't trust Bollore while his relationship with Senard is described as just courteous, according to Les Echos.

The surprise announcement came after rumours of a management shake-up appeared in French newspapers earlier this week, and is understood to be an effort by the brand to further distance itself further from former boss Carlos Ghosn.

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