French prosecutors probing ex-Renault boss Ghosn's marriage ceremony prices: experiences

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French prosecutors probing ex-Renault boss Ghosn's marriage ceremony prices: experiences

Renault SA and Mitsubishi Motors Corp. had been concocting a plan to set off a joint board meeting in order to discuss critical issues related to their alliance's fate in post-Ghosn era, while the carmakers could have been eyeing towards a potential integration of operations, a TV Tokyo report revealed on Sunday, the 10th of March, 2019.

The announcement at a press conference in Yokohama, where Nissan is based, was created to ease the tensions that have flared within the alliance since the arrest of Carlos Ghosn.

Former Nissan chairman Ghosn was released on a $9 million bail last week after spending more than 100 days in a Tokyo detention centre.

"We are fostering a new start of the alliance".

The notice, signed by Nissan President Hiroto Saikawa, will be sent out Thursday, Nissan said.

The notice says the agenda also includes the election of Renault Chairman Jean-Dominique Senard as a director, on the condition that Ghosn is ousted.

"Nissan's strong opposition to Ghosn's attendance is very regrettable", Hironaka said outside his law office. He faces charges of under-reporting his salary at Nissan by about $82 million over almost a decade - charges he has called "meritless".

Senard said he would not seek to be chairman of Nissan, but believed he was a "natural candidate" to be vice-chairman. Before his arrest in November, Ghosn had been chairman of all three individual companies while also leading the alliance.

Although he was nearly immediately fired as the head of the company when the allegations surfaced, he is still a board member until April 8, when an extraordinary meeting of shareholders is likely to remove him.

The move gave the alliance time to reformulate the structure of its board of directors without having to undo the alliance - for now anyway.

In the wake of the scandal, Renault has started its own review of payments to Ghosn.

Ghosn found himself embroiled in another legal battle on Monday when French prosecutors opened an inquiry into a party he threw at the sumptuous Palace of Versailles outside Paris in 2016.

His dramatic arrest and the detention exposed tensions between Nissan and top shareholder Renault, complicating the outlook for a partnership that is the world's largest maker of automobiles, excluding heavy trucks. Renault, which is smaller than Nissan, bought 43% of the Japanese giant before the 1999 rescue.

Nissan holds a 15% non-voting stake in Renault, whose biggest shareholder is the French government.

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