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News of April 30, 2002
Carlos Ghosn, President and Chief Executive Officer of Nissan Motor, appointed to Renault's Board of Directors
| Paris - Carlos Ghosn, President and Chief Executive Officer of Nissan
Motor, was appointed today as second Nissan's representative to Renault's
Board of Directors. Renault's Board of Directors proposed Ghosn's
appointment, which was approved at Renault's General Shareholders' Meeting
of April 26, 2002.
Carlos Ghosn joins Yoshikazu Hanawa, Chairman of Nissan Motor, as Nissan's second representative on Renault's Board of Directors. Yoshikazu Hanawa was appointed director of Renault in June 1999. Renault's Board of Directors comprises seventeen members. The terms of office of all Directors are for a period of four years. |
Carlos Ghosn Photo: Renault |
The appointment of Carlos Ghosn as a director of Renault comes as part of the strengthening of the Renault-Nissan Alliance, as announced October 30, 2001. Renault increased its stake in Nissan, from 36.8% to 44.4% on March 1 st , 2002. Subsequently, Nissan entered Renault's capital at a level of 13.5% on March 29, 2002. A joint strategic management company, Renault-Nissan bv, was established by the two companies and the management agreement has been signed on April 17, 2002. As part of the agreement between Renault and Nissan, the appointment of Shemaya Lévy, Executive Vice Président, Chief Financial Officer of Renault, as non-executive Director of Nissan will be proposed at the next General Annual Shareholders' Meeting of Nissan.
(April 26, 2002)
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