The board of directors of Renault, which met on Tuesday, June 4, has not only examined the proposed merger between Renault and Fiat Chrysler Automobiles (FCA). It also took note of the results of the audit conducted by the firm Mazars on the expenses of Carlos Ghosn in the framework of Renault-Nissan BV (RNBV), the joint venture between Renault and Nissan.
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This audit has been launched several months ago already, and was as a result of the arrest of the ex-CEO of Renault and Nissan on November 19, in Japan on suspicion of misconduct. Renault had launched investigations of its side, which resulted in a report to the justice. But an audit has also been launched in RNBV, the company in charge of the synergies within the Alliance and that the japanese side accused of being a sort of “black box”. Jean-Dominique Senard, the new president of Renault, has also put this entity in a sleep state for the benefit of the new council of the Alliance.
personal Travel with aircraft of the company, Cartier watch, personal invitations to the Cannes film Festival… The list of expenses that are not justified is long.
The audit by Mazars reveals 11 million euros of personal spending for the benefit of the former CEO, as well as donations to non-profit organizations, donations that do not appear to be justified to the auditors. Personal travel with aircraft of the company, Cartier watch, personal invitations to the Cannes film Festival… The list of expenses that are not justified is long.
The board of directors of Renault does not directly enter the French justice to the result of this audit, RNBV is registered in the netherlands. But it will ask for accounts from his ex-boss. In a press release, the board of Renault asks “representatives of the Renault to be closer to their counterparts of Nissan in the governance bodies of RNBV in view of the implementation of the legal actions available in the netherlands in respect of the additional costs of travel to Mr Ghosn by plane, some of the expenses incurred by Mr. Ghosn and means to be compensated by Mr. Ghosn donations have benefited to some non-profit organizations”.
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on Wednesday, the Economy minister Bruno Le Maire said that the conclusions of the audit being conducted “show of reprehensible acts that we will pass on to the justice. There will be a complaint that will be heard and justice will decide”. He added that “the State has played its role as reference shareholder: six months ago I asked for an internal audit when the revelations were revealed. It is a State that fully plays its role and ensures the good governance of the company.”
Nissan puts its poor financial results on the back of Carlos Ghosn – Watching on Figaro Live
