Deals
Nissan Tells Rowdy Shareholders It Will Mend Renault Alliance
- French partner given key committee seats at Japanese carmaker
- CEO Saikawa wins shareholder support at contentious meeting
Thierry Bollore, chief executive officer of Renault.
Photographer: T. Narayan/BloombergThis article is for subscribers only.
Nissan Motor Co. pledged to put more focus on mending its troubled two-decade alliance with Renault SA as the Japanese carmaker’s boisterous shareholders voted to give the French partner more say over its future.
At Nissan’s rowdy annual meeting in Yokohama, bickering shareholders approved a governance structure designed to boost oversight and prevent the concentration of corporate power in one individual, seeking to address the lapses that led to the arrest of former chairman Carlos Ghosn. Renault, which owns 43% of Nissan, got a bigger representation in key board committees.