Renault board of directors unanimously approves CEO’s action plan in wake of fraud crisis
PARIS – March 14, 2011 – Renault’s board of directors held an extraordinary meeting Monday at the request of CEO and President Carlos Ghosn.
Ghosn addressed the full board, including representatives from Japan, about the preliminary findings of a French prosecutor who has been conducting an investigation into the case of three employees terminated for alleged wrongdoing. The prosecutor completely exonerated Michel Balthazard, Bertrand Rochette and Matthieu Tenenbaum of all wrongdoing.
In addition, Ghosn presented the board of directors with the results of an investigation by the Central Directorate of Interior Intelligence (DCRI). The agency’s findings point to organized fraud involving at least one Renault employee.
Ghosn presented the board with the following action plan:
The board of directors unanimously supported Ghosn’s action plan. Pelata tendered his resignation, but Ghosn refused to accept it. Ghosn also emphasized his and Pelata’s commitment to leading Renault.