Nissan slams Renault abstention on governance efforts vote

June 10, 2019 GMT

TOKYO (AP) — Nissan’s chief executive has criticized the Japanese automaker’s French alliance partner, Renault, for trying to block changes to strengthen governance following the arrest of former Nissan Chairman Carlos Ghosn.

Hiroto Saikawa said in a statement Monday that Nissan received a letter from Renault saying it would abstain in voting on the corporate governance measures at Nissan’s June 25 shareholders’ meeting, apparently because its views weren’t adequately reflected.

Renault declined to comment.

Saikawa said the proposed changes have already been discussed by Nissan’s board, including members nominated by Renault.

He said: “Nissan finds Renault’s new stance on this matter most regrettable, as such a stance runs counter to the company’s efforts to improve its corporate governance.”

The proposal calls for three committees to add outside directors and oversee compensation and audit.